View all Blue Ridge foreclosures and bank-owned homes available on the MLS/IDX system:
Unless you have been living at an extremely high altitude mountain cave and growing a long beard for the last few years, you have your heard your fill of doom-and-gloom real estate market reports. It is no secret that most of the country has had its real estate bubble pop, but Blue Ridge real estate has passed through the economic downturn relatively unscathed. In fact, the percentage of Blue Ridge foreclosures that comprise the local MLS inventory is comparatively low. There are several reasons for this, including a permanent buyer demand created by a strong local economy, a convenient location not far from Atlanta, and a natural setting that makes this the vacation mecca of the region. It is true that Blue Ridge foreclosures are available and create some fabulous buying opportunities, but it is important to note that the great majority of Blue Ridge home owners have not defaulted on their mortgages, and most people who have held on to their properties for awhile enjoy a positive equity position. Many of the Blue Ridge foreclosures currently available were vacation properties, and some of the home owners defaulted because they got themselves into risky mortgage refinance products.
We no longer see conditions that would allow you to buy a home, put a coat of paint on it, and then flip it for tens of thousands of dollars more in just a few weeks. However, Blue Ridge real estate is still one of the best investments you can make, especially if you buy one of these Blue Ridge foreclosures at today’s prices. The selection of foreclosed homes spans the entire price spectrum, and includes homes with nice mountain views, creek side properties, and properties with acreage for horses. However, be forewarned; as this foreclosure and bank owned property supply dwindles, there will be an upward pressure on prices.
Buying Blue Ridge Foreclosures
Many Blue Ridge foreclosures are Fannie Mae properties, which means that they property is approved for HomePath Mortgage Financing and HomePath Renovation Financing. These properties can be purchased for as little as 3% down. Also, banks are facing up to reality and saying things like “bring all offers!” While you cannot expect to pick these homes up for pennies on the dollar, banks have become easier to deal with and it is possible to purchase Blue Ridge foreclosures at bargain prices.
Your Blue Ridge Foreclosure Expert
Contact me for expert advice on finding and purchasing Blue Ridge foreclosures. I know this market and have experience with getting good results from negotiating with banks. My goal as your Blue Ridge foreclosure expert is to help you find the property that best suits your needs under terms of a contract that favors your interests.
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