I have been looking at small multi-family units in Stamford, CT, and noticed there are a ton of duplex properties either for sale or recently sold that have been foreclosed on. Is this something unique about Stamford, the multi-family marketplace in general, or something else I’m missing? I know the region has lost some big name employers recently so I figure that could have something to do with it.
@Emmett Freedman where are you seeing the foreclosures? Stamford market is booming with a ton of rental demand coming out of NYC.
I am interested as well to know where you are seeing this?
@Robert Hines @Peter Anderson
Mostly on Zillow - maybe that's a rookie mistake. But it seems like many duplexes are sold in foreclosure or are currently listed as pre-foreclosure. I agree it seems like Stamford and other NYC suburbs would be seeing high demand right now.
@Emmett Freedman yeah I dont trust Zillow. Google ‘connecticut judicial foreclosure’ and you’ll find the real list across CT by town (if you haven’t already).
Im not sure what metrics Zillow actually uses to highlight pre-foreclosures (if anyone knows please chime in), but perhaps delinquent payments of some type that hit public record. I wouldn’t be surprised if there’s an uptick in delinquency right now, but don’t forget evictions and foreclosures are largely on hold.
Awesome @Peter Anderson thanks for the insight!