As inventories climb and sales slow down, more people are facing foreclosure. Although foreclosures remain at fairly low levels historically, they are up 18% nationwide.
Increasingly we are seeing more desperate home sellers, like this one from Craigslist:
NEVER BEEN RENTED OUT OR LIVED IN!!! NO REALTORS PLEASE I CANNOT AFFORD TO PAY ANY REALTOR FEES SORRY. I NEED QUICK CLOSE ON THIS HOME BEFORE I FORCLOSE!!! I JUST WANT TO PAY WHAT I OWE AND ENOUGH TO COVER MY OWN CLOSING COSTS WHEN I SELL THE HOME.THIS IS A NEVER BEEN LIVED IN HOME!!! I CANNOT NOT TAKE LESS THAN WHAT I AM ASKING SO IF YOU DECIDE TO MAKE AN OFFER LESS THAN WHAT IM ASKING YOU ARE WASTING YOUR TIME.THE BUILDER IS SELLING THE SAME FLOOR PLAN BASE WITH NO UPGRADES AT $296,900 PLUS YOU WILL HAVE TO PAY FOR ANY UPGRADES YOU MAY WANT AND THE LOT IS ALSO EXTRA.I HAVE $39,000 IN UPGRADES INCLUDING THE LOT PREMIUM WHICH I CAN SHOW YOU IN THE ORIGINAL PAPER WORK WHAT I PAID FOR. I AM JUST GETTING BY WITH MAKING THE PAYMENTS AND I NEED OUT. MY LOSS IS YOUR GAIN WALK INTO EQUITY THE DAY YOU CLOSE, THIS HOUSE WILL APPRAISE FAR ABOVE AND BEYOND WHAT I AM SELLING IT FOR.
