Foreclosures have fallen by 35 percent nationwide in the last year, according to data from RealtyTrac. However, where such proceedings must first get approved by the courts—which are known for having a lengthy process.
In some states, a glut of foreclosures remain, and foreclosures tend to sell at discounts. Many of these properties will likely enter the market in the next six to 12 months, says Daren Blomquist, vice president of RealtyTrac.
“If you missed the bottom of the housing market, this might be the last chance to get a bargain on one of these foreclosure homes,” he says.
Inventories Rising Faster Than Usual
Inventories Rising Faster Than Usual
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