Triangle Foreclosure Sale

Foreclosure sales in Durham and Raleigh for the first quarter of 2010 decreased overall from the previous quarter. According to a recent report published by RealtyTrac and publicized by The Triangle Business Journal. Foreclosure sales in the Triangle area were down by 6% from the previous quarter. What this report is tracking is sales of home during the first quarter of 2010 that were in some phase of the foreclosure process. Another interesting element of this report circles around discounts to buyers. According to the report buyers of REOs (Real Estate Owned by the bank) were given the steepest discounts off fair market value. In the Triangle area the biggest discounts were realized in Durham. You can read the Business Journal article by clicking here. If you’d like more information about purchasing foreclosure properties please give us a call.