Distressed Doesn’t Mean Cheap

Foreclosures have been at the forefront of the real estate market, no doubt, but on the other side of distress is opportunity – for those who are able to take advantage of it.

In Phoenix there has been a steady flow of foreclosures averaging about 4,000 units per month and buyers are grabbing them up.  While bank owned homes make up a small percentage of active homes, they make up the largest share of sold homes – around 40% depending on the month.