Market Trends: 5/21/2012
Distressed
Market Snapshot
Total Properties Listed:
3,624
Month-Over-Month Change: -1.25%
Average List Price:
$153,459
Month-Over-Month Change: +.11%
Median List Price:
$100,400
Month-Over-Month Change: -3.69%
Typical Property
Single-Family Home
3.32 Bedrooms
2.42 Baths
$153,459 Average List Price
$72/SqFt Average Price per SqFt.
Average Price by Bedrooms:
1 Bedroom:
$122,053
2 Bedrooms:
$90,193
3 Bedrooms:
$110,485
4 Bedrooms:
$236,479
5 Bedrooms:
$365,821
Top 5 Most Viewed Properties
Foreclosures / Short Sales, NC Real Estate:
Imagine finding your perfect Foreclosures / Short Sales home... Start searching now!
Search
Charlotte, NC
Real Estate Listings
Home Search
Charlotte, NC: 28,696 Listings
Foreclosures / Short Sales Real Estate
About Foreclosures / Short Sales
Looking for a foreclosure, pre-foreclosure, FNMA, bank- owned, short sale or REO Property? There are numerous distressed properties for sale in and around the Charlotte market place. Purchasing a foreclosure property, short sale property, or REO home could be a profitable Real Estate investment for you. Economic conditions have left homeowners in a situation where they are forced to sell their homes. Some homeowners are able to sell, while others are unable to sell due to the decrease in the value of their home. If the value of their home dropped below the original purchase price
and they are not in a position to bring money to the closing table or
make payments anymore, a foreclosure is eminent.
One way to prevent a foreclosure is a short sale. The lender will consider a short sale if they believe it will result in a smaller financial loss than foreclosing. In this instance, the lender will work with the buyer to obtain an offer on their home. The offer is accepted by the lender and the lender is the one who takes the loss at closing.
If a home doesn’t sell through the short sale process or the homeowner doesn’t take advantage of the short sale process, then a foreclosure will take place. At this point, the lender has foreclosed its mortgage and will sell the property and keep the proceeds to pay off the mortgage and any legal costs.
If a property has an unsuccessful sale at the foreclosure auction, it becomes an REO (Real Estate Owned). The bank will attempt to sell the property at future auctions or hire real estate agents to list the property. A REO Home for sale usually presents a great opportunity to make a very profitable Real Estate investment. Generally speaking, banks will compensate on a much lower price if the property is in need of extensive repair.
If you’re in search of a Realtor that specializes in foreclosures, short sale or REO properties, please allow one of our experienced team members to assist you in the process. We are passionate about Real Estate and will always go above and beyond to ensure that you are 100% satisfied! We love the Charlotte area and hope you will as well!