It seems that over the summer we saw a limited number of foreclosures hitting our local market. This then caused existing inventory to sell without getting replenished. What does this mean if you are looking to buy a foreclosure?
Well, inventory levels may be low right now...but according to recent news articles this may change. Many homeowners took out Adjustable Rate Mortgages (ARMs) and they are soon to be adjusting. What does this mean for you? There may be more bank owned homes coming onto the market.
Read more about Adjustable Rate Mortgages and what may happen as homeowners prepare for their monthly mortgage to go up. Read More...