The interest in bank owned properties has been growing rapidly over the past few years. Once considered damaged goods, which only the bravest investors would even consider, bank owned properties have not only lost their stigma, they've become desirable properties and they’re regularly appearing in the most coveted neighborhoods.
In a 2009 survey conducted by the National Association of REALTORS®, only 25% of buyers said they’d consider buying a bank owned home. According to a more recent survey from May of 2012, 92% of buyers said they’d be interested in buying a bank owned home.
Bank Owned Sales made up 10% of the market for the 4th Quarter in 2012. February 2013 saw Bank Owned sales at 7% of the market.
Source: UNRIf you are considering purchasing a property any time soon, you should definitely consider the bank owned properties on the market. You may find them at a slightly discounted rate and in a good neighborhood. Plus you will have an experienced Dickson agent with you the whole time, helping you through the process and always looking out for your best interests.
Market News Segment - Active vs Solds for January and February 2013
