Area Foreclosures

[JoshMclean]

Do an inventory chart if you get a chance.

 

[30ashopper]

A couple updates, that condo graph was using the wrong data, I pasted in the wrong table. So I updated the graphs above. Here's inventory -

Interesting trends! It looks like inventory has leveled for single family homes, and condo inventory is dropping.

 

[JoshMclean]

Here is an updated list -
http://www.activerain.com/blogsview/585850/Updated-Foreclosure-List-for

 

[SHELLY]

Thanks for posting Josh.

There's some pretty impressive-looking foreclosures in that group if I do say so myself.

 

[JoshMclean]

There are some very nice foreclosures out there right now. More coming on the market every week right now.

 

[30ashopper]

Has anyone walked through that place on Calhoun in Destin? I'm curious how much work is needed to get it rental ready.

 

[30ashopper]

Also, Josh, can you tell me what a note like this means? -

"PREQUAL LETTER FROM A LOCAL COUNTRYWIDE OFFICE MUST ACCOMPANY ALL OFFERS"

Is Countrywide requiring that a loan on the property go through them? What if you were going to pay cash or borrow from a different lender?

 

[JoshMclean]

Also, Josh, can you tell me what a note like this means? -

"PREQUAL LETTER FROM A LOCAL COUNTRYWIDE OFFICE MUST ACCOMPANY ALL OFFERS"

Is Countrywide requiring that a loan on the property go through them? What if you were going to pay cash or borrow from a different lender?

You must have a pre qual letter or proof of funds presented with all short sale and foreclosure offers. Countrywide wants one from their local branch, but you are in no way obligated to use them.

 

[rapunzel]

You must have a pre qual letter or proof of funds presented with all short sale and foreclosure offers. Countrywide wants one from their local branch, but you are in no way obligated to use them.

Isn't it considered a bad thing to have multiple entities pulling your credit when you are getting ready to make a major purchase? I wonder why Countrywide requires that...plus, it sort of hinders your negotiating power a little, doesn't it, if they know how high you can go?

 

[JoshMclean]

They do it in hopes that you'll use them I'm sure. If it hinders you enough that you wouldn't be able to purchase the property after a couple of credit checks then you really shouldn't be purchasing at that price IMO.
I haven't found that it has made a difference in the negotiating, but that's a good thought.