Foreclosure Fire Sales

With Thanksgiving just around the corner we are about to enter the time of the year that yields the best housing prices regardless of the market. With current market conditions the coming month could be better than ever for buyers looking at foreclosure properties.

A colleague who specializes in listing foreclosures said to watch for lots of price reductions just after Thanksgiving. Many banks are motivated to get foreclosure properties off their books before the end of the year...so if you are able to close by December 31st banks are likely to look at lower offers than they would at other times of the year.