Outer Banks Fans,

It’s still all about foreclosures and shorts sales for property investment in Corolla and the deals continue to get hotter.

Property Values Drop But not Rent!

Since December of 2010 our property values have dropped between 5% and 10% depending on the property and location. While many of us who are owners cringe at that fact, it does represent an incredible opportunity for potential buyers. Our Corolla property investment market is rock solid; defying, as in the past, the trends in the larger tourism industry. It’s a simple concept – prices are soft, while rents remain strong.

homes for sale, foreclosures corolla

Factor it in

Shadow inventory is a term everyone has heard by now and this is one of three big factors driving prices down. The glut of Corolla foreclosures have jammed up the system and left many homes in limbo, waiting to be listed in the future. Short sales in Corolla have also contributed to the mass of distressed properties.

Seller exhaustion is a second factor. Many sellers assumed that the cycle would turn in 2007, 2008 or 2009. Even the most optimistic seller has realized now that prices will not likely escalate for years. Many sellers have abandoned principle and either strategically defaulted or have agreed to short sell their home.

homes for sale, foreclosures corolla

The third factor in the sudden drop since December is continuing difficulty in the mortgage market. This is a double edge sword as it affects both buyers and sellers. The only way for you, the prospective buyer, to deal with this is to talk to a lender in advance.

Your Best Opportunity

This is your chance find the perfect home for sale in Corolla. Call Dean Agency today and ask them about the houses on the market and find the best bargain ever.