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)
© Copyright 2013 INFORMATION, INC. Bethesda, MD (301) 215-4688
No comments:
Post a Comment