After my Charleston Market Update Video last month concerning the foreclosures which are beginning to come on the Summerville & Charleston market, I’ve had a few follow-up questions….
- When are the foreclosures going to come up for sale?
- They are going to be put on the market in stages so as not to swamp the market all at once. This began in March. The paperwork that has held so many of them up is no being resolved and pushed through.
- Will the foreclosures be availabe through the Charleston MLS?
- The foreclosures will be listed on the Charleston MLS just like any other properties would be. The banks will turn them over to realtors for marketing and sale. They will show up as “Lender Owned” properties.
If you would like a list of Charleston foreclosures emailed to you please fill out the Foreclosure Request Form on my website.
Here is an excerpt from a recent article from Charleston Business Journal regarding the South Carolina Foreclosures:
“South Carolina is facing slightly higher rates of foreclosure, with one in 207 homes under foreclosure for the first quarter of the year. Brandon Moore, CEO of RealtyTrac, said the low numbers aren’t indicative of a lessened foreclosure market but rather a dam holding back a flood of foreclosure and short-sale activity to come. ‘There are hairline cracks in the dam, evident in the sizable foreclosure activity increases in judicial foreclosure states over the past several months, along with an increase in foreclosure starts in many judicial and non-judicial states in March,’ he said. ‘The dam may not burst in the next 30 to 45 days, but it will eventually burst, and everyone downstream should be prepared for that to happen — both in terms of new foreclosure activity and new short sale activity.’
Like I mentioned earlier, if you would like a list of Charleston foreclosures emailed to you please fill out the Foreclosure Request Form on my website.
As always, feel free to email me- Foster@Homesofsummerville.com or call me at 1-843-974-6029 with any questions you may have!