Yes there are many well priced Metro Detroit foreclosures on the market. Does it mean that you have to jump in and buy immediately? I don’t think so. Foreclosures are still on the rise. What that means to you as a Metro Detroit Home buyer is that there is going to be many more Metro Detroit foreclosures coming on the market in the next year. You will have more to look at in the coming months.
This spring and summer is like most buying seasons. There are buyers out there looking for bargains and buying reasonably priced homes. There is no sense to buy just to buy. There is no sense in over paying for a home right now. You will regret it later on.
My advice to you is be patient. Search for the home you want. But be prepared to act on it. Don’t sit on it if you like it. Put in an offer. The well priced Metro Detroit foreclosures are selling. Sometimes they are getting multiple offers. Sometimes there is even a bidding war on the nice homes that are well priced.