Are banks are desperate to unload homes these days? Do you wonder if you might be able to buy a bank owned home for 25%-50% less than the asking price?
To find out, we examined sales of single family homes in New Tampa (33647) that had been through the foreclosure process. We found that 75 foreclosed homes were sold thus far in 2009 by various lenders as “bank owned foreclosures” (or about 8 per month).
When we compared the final listing price to the sales price, we discovered that foreclosed homes sold for an average of 3% below the asking price. That’s right, Tampa foreclosures sold for 97% of the bank’s asking price, often with multiple offers. Of the 75 foreclosures, 20 sold for over the asking price, 19 sold for the asking price (or within $1000); and 35 sold for just below the asking price.
For strategies to obtain the best value and lowest prices on homes, contact Team Bohannon today at 813-979-4963.
