 |
Mandoki Realty |
Spring is at our doorstep and with it Spring Break and increased traffic of potential buyers in the form of rental guests. My office has already seen a noticeable increase in walk-ins and showings requests both by phone and internet. Of course, much of the interest is in the rock-bottom-priced foreclosures released late last year by the officials presiding over the Taylor, Bean and Whitaker Chapter 11 bankruptcy. Taylor, Bean and Whitaker had foreclosed on twelve units at the Plantation in 2007-08 but never brought them to market via the local MLS or local brokers. Now about all of them have been released to the market at low, low prices. Some have sold, some have contracts and some are still for sale.
Of course, there are still some well-priced private sales among the inventory and those units are getting their fair share of interest, too. Remember, just about all foreclosed units are unfurnished and in some cases, missing cabinets, ceiling fans or more. A private sale unit at a slightly higher price can still be a competitor once the prospect actually views the properties and determines the investment required to bring a foreclosed property up to snuff. Any owner trying to sell his unit in this market should be sure the price and unit condition are not “disconnected’ from the market in order to remain competitive.
