Buyers are still in control of the market putting sellers at a distinct disadvantage
Pelham, NH (PRWEB) May 19, 2008
Heading into "prime time" for buying and selling real estate (May thru August), sales are down approximately 10% and foreclosures are up 49% from last year through the first four months of the year.
ForeclosuresNH and REOsNH.com, the primary sources for foreclosure and REO data in the state, is reporting a record number of foreclosure filings in the month of April with 746, an increase of 86% from April 2007 (400) and a slight increase of just under 2% from March 2008 (736). Foreclosures in Q1-2008 (1719) are up 38% from Q1-2007 (1247). The steady increase in foreclosures will deter homeowners from selling now because it is negatively affecting property values which is directly related to the sale price and they can't compete (in price) with the bank-owned properties that are being sold at a discount.
"Buyers are still in control of the market putting sellers at a distinct disadvantage," says James Kenney, president of ForeclosuresNH.com and REOsNH.com, "and it will remain that way so long as foreclosure rates remain as high as they do. From the buyers and investors perspective, there has never been a better time to find deeply discounted properties. A majority of these properties (REO) are being purchased at about half of their estimated value. Subscribers to ForeclosuresNH.com or REOsNH.com have access to the top 20 discounted properties in the state - some discounted up to 75% of their estimated value."
About ForeclosuresNH and REOsNH
ForeclosuresNH and REOsNH provide the largest and most detailed and up-to-date foreclosure and REO databases in the state. We give our subscribers a distinct advantage in the NH foreclosure/REO market by providing them with the resources necessary to be successful. We pride ourselves in not only providing accurate foreclosure/REO data but also a support network for our subscribers, regardless of their experience.
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