Last weekend I got a call from the Bank I'm representing on a foreclosure property. He told me the Bank wants this home off their books in 2 weeks! At the end of the conversation he advised me to drop the price on this property $70,000! Needless to stay, I had 3 offers on Monday with more coming in. The home sold for $5,000 over list price for a Grand Total of $255,000.
This is for a 5 bedroom 2865 square foot two story home! Our market is going down about 1% per month. Hopefully this will level out soon.
The Moral of the story: Hold on, this too will pass.
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