One thing that many people might not think about with the market recovery is that more foreclosures may be on the horizon. But, when numbers keep looking better and better, how can this be?
In the recent past, Michigan has seen its foreclosure numbers decrease as banks took on more and more short sales. Michigan also has increased home values and more people entering the market to buy.
These two factors are adding up to an increase in foreclosures: sellers aren't interested in doing a short sale as home values rise, and banks feel similarly. The result is more homes going into foreclosure.
Now, this isn't a given, but it is certainly a possiblity.
Lang Premier Properties is home to a leading Oakland County Short Sale Realtor. We specialize in all aspects of real estate including short sales, foreclosures and working with home buyers and sellers in the Troy, Birmingham, Rochester Hills and Bloomfield Hills luxury market. When you hire Lang Premier Properties, whether you are purchasing or selling Metro Detroit Real Estate, you can rest assured that you are in good hands.