Big Discounts on Foreclosures Fading

Economist: Big discounts on foreclosures fading

Treasure Coast Sunset

Treasure Coast Sun Sets on Foreclosure Deals

NEW YORK – March 12, 2013 – Homebuyers may not get as great of a deal on a foreclosure as they once did, according to Paul Diggle from Capital Economics in a new report.

Foreclosure starts are falling and the inventory of foreclosures has been decreasing, which has caused the discount on foreclosures to lessen.

The discount on foreclosed homes compared to other homes has fallen to a 12 percent average, according to Diggle. That was about the same percentage prior to the housing crash, he says. Last year the foreclosure discount averaged about 30 percent.

“Ultra-low mortgage interest rates and steady, if not spectacular, job creation could mean that the delinquency rate and foreclosure start rate are falling quickly,” Diggle writes.

Source: “Those Amazing Deals on Foreclosed Homes Are Disappearing,” Business Insider (March 7, 2013)

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Port St Lucie Realtors RE/MAX Masterpiece Realty

Port St Lucie Realtors RE/MAX Masterpiece Realty

Now is the time to buy!

If you want to find foreclosures in Port St Lucie, click here to begin your search or contact Tradition Realtors Jeremy Glass & Elyse Wagner of RE/MAX Masterpiece Realty for more information 772-249-9485 shorethingteam@gmail.com.

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