Calgary Foreclosure Listings - August 24th 2011

[Travis Munroe]

Update

Updated August 24th.
Click this link to go to the thread with links to the foreclosures.


http://forum.calgarypuck.com/showthread.php?t=98776

[Travis Munroe]

Also updated

[Discoste]

Links don't seem to work for me....

[Travis Munroe]

should work now. The links were only working once and I posted in both the foreclosure threads so I just linked to the original.

[AmandaT]

Do foreclosures tend to sell for less than non-foreclosures? I know they can drive the prices down overall but when side-by-side, can foreclosures be bought for less? Also are foreclosed homes usually in need of more repair compared to non-foreclosed homes and condos for sale?

[Travis Munroe]

Foreclosures do typically sell for less. When pricing your own home I like to take comparable foreclosures out of the equation and just face the fact it will sell sooner because it is cheaper.
As for condition it is random, I have seen horrible places and I have seen immaculate. If the owner has 30k+ in equity then they should do their best to leave it I. Great condition because they will be getting extra sale proceeds back from the bank.

[bizaro86]

Originally Posted by Realtor 1

If the owner has 30k+ in equity then they should do their best to leave it I. Great condition because they will be getting extra sale proceeds back from the bank.

If the owner has >30k in equity they should sell it before the foreclosure. Banks don't do a great job marketing it. Anyone in that situation would be better off hiring their own realtor and pricing it to move fast.

[Travis Munroe]

Originally Posted by bizaro86

If the owner has >30k in equity they should sell it before the foreclosure. Banks don't do a great job marketing it. Anyone in that situation would be better off hiring their own realtor and pricing it to move fast.

Agreed however you have basically run out of time at this point and many people mentally give in to the fact "its about to happen".
Alot of those we buy houses cash companies make a big profit in these situations.
They come in and offer the person whatever it is that is owed and prevent them from going through foreclosure. The person saves their credit and the buyer has a home which has already made them money if they were to turn and sell it. Its unfortunate that people in the foreclosure process rarely think straight because of all that is going on.