Investors are finding it more and more difficult to find and receive accepted purchase offers on bank owned homes. The inventory has diminished a bit and the competition is pretty fierce.
However, from an investment standpoint, good news is on the way in many parts of the country. We monitor the Greater Phoenix market and have seen a rise in both notices of foreclosure and trustee sales. We anticipate a wave of new inventory will come on market beginning in July, spreading into fall.
This said, the question is how to win the battle for accepted offers? We interviewed several top bank-owned home listing agents in the Phoenix area to solicit their opinion on this subject. The results of our inquiry have been summarized in an article on our sister blog site, Urban LIfe. To read this article on "Tips to Win When Bidding on Bank Owned Homes", simply click on the highlighted text.
If you would like to search for homes in the Greater Phoenix market, we've provided an excellent search tool on this site. You can search for bank owned homes as well as private market properties and the system is map based. All data is current and provided by an IDX feed from our local MLS system, ARMLS. Have fun.
Best to you,
Gene Urban & Ron Urban
The Urban Team at Realty Executives
602-234-5777
