Bryan & College Station Foreclosures

Many returning Ags, or even first time homebuyers believe that getting a foreclosure deal will give them instant equity in their Bryan or College Station home, condo or duplex. Unfortunately this isn't always, or even generally, the case. Unless you are buying a home that is significantly more pricey than the average home, or significantly less, then the Bryan or College Station house would have sold before foreclosure with no problem. With our average market time of less than 100 days for homes within the popular 120-180K market, only the truly stubborn homeowner, or the truly negligent, will get foreclosed on. These properties, placed on the open market and priced reasonably will likely receive multiple offers as long as they are reasonably cared for, in the metropolitan areas of Bryan or College Station (as opposed to the smaller towns of Franklin, Caldwell, Snook, Hearne, Navasota), and priced right.

The rare decent College Station real estate properties that do go to foreclosure will likely face intense scrutiny and garner multiple offers when finally put up for sale. A typical scenario is the home in Westfield Village that sold in a HUD foreclosure. A HUD foreclosure is a foreclosure for a FHA insured property and notably well priced typically. This home was priced about $10 a square foot under market (about 10% less than market) and was in a great area. The floors needed to be replaced, the house was built with substandard materials and the lot placement left something to be desired with the backyard backing up to a major road. Showing this house was an exercize in frustration with only the rare agent NOT having a client that was interested in it. Multiple offers were gained while other buyers lost out on homes much better suited to their experience waiting to hear how they had fared in the bidding process. When it was all said and done the property sold for over list price and dozens of prospective buyers were disappointed.

A better strategy for securing a great buy on a Bryan or College Station real estate purchase is to look for a property that is vacant and costing the owner each and every day that it's on the market. Other possibilities are purchasing in the off season and finding a house that needs work and has been on the market quite some time. An experienced agent can help you, either with a foreclosure or identifying excellent buys on the market. Sometimes a Bryan or College Station foreclosure is not what it's cracked up to be. However, there is almost always a great property out there at a good price for each person. Call Chris or Coti today to find the right property for you!