And when the market is tight, looking at distressed properties makes even more sense.
For years, many buyers routinely steered clear of foreclosure sand short sales. In their minds, such properties were “damaged goods” — real estate remainders that were likely to be dumps and money pits. Why risk such a big investment on a property sold in distress?
We’re now in a housing market unlike any we’ve seen in years.inventory is tight in many areas. Meanwhile, the poor economy of the past few years has produced more properties in foreclosure or offered as short sales.
And so, as you enter the market either for the first time or as a seasoned buyer, you should be on the lookout for “distressed” sales.
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