Foreclosure Deals in PA » Sarah

Average Sales Prices and Savings on Foreclosures in Pennsylvania

Sarah — Fri, 22 Apr 2011 01:37:21 +0000

These days everyone is talking about the great deals to be had by purchasing a foreclosed home. But how much money is there really to be saved? Actually, quite a bit.

The latest numbers from RealtyTrac show that for the month of March, the average purchase price of a non-distressed home in Pennsylvania was $182,500. This compared with the average purchase of $120,371 on a foreclosed home in Pennsylvania, which works out to an average savings of about $62,000, or 34%. This is even higher than the national average savings for March, which came out to roughly 30%. Take a look at the graphs below for details.

With the money to be saved and some of the great homes available on the market right now, it makes sense to consider purchasing a foreclosure when looking for your new home.

Foreclosure for Sale – Beautiful and Spacious Ranch

Sarah — Sat, 09 Apr 2011 16:48:46 +0000

Beautiful and spacious ranch, only minutes from the Delaware Water Gap. Nearly 2,600 square feet with 2 bedrooms and 2.5 baths. Features include an open layout, large eat-in kitchen, impressive formal dining room, spacious master suite with walk-in closet, formal living area, fireplace in family room, cathedral ceilings, easy-to-maintain yard, and finish lower level. Located in Woodland Village at Shawnee – amenities include outdoor pool access, security and garbage services.Total estimated price, with repairs: $150,000.

Foreclosure for Sale – Expansive Home Offering Unique Opportunity

Sarah — Sat, 09 Apr 2011 16:42:31 +0000

Expansive contemporary home offering a unique opportunity to buyers. 5,200 square feet with 6 bedrooms and 3.5 bathrooms. Home is currently sheetrocked, but otherwise unfinished, and can be completely customized to buyer’s tastes. Features include an impressive foyer, spacious kitchen, beautiful great room with fireplace, open loft, oak staircase, three-car garage, cathedral ceilings, large master suit and more. Located on a half-acre lot, adjoining open land in the back, in a golf course community with many amenities.Total estimated price will vary based on finishing; please contact us for more details..

Foreclosure for Sale – Bright and Sunny Contemporary

Sarah — Thu, 07 Apr 2011 02:01:01 +0000

Contemporary with lots of light in Penn Estates in East Stroudsburg, PA. Over 1,800 square feet with 4 bedrooms and 3 bathrooms. Features include bright and sunny living room with lots of windows and skylights, large deck overlooking creek, master suite with jacuzzi, fireplace in living room and more. Located in a private community with lake access, tennis courts, clubhouse, 24/7 security and more. Total estimated price, with repairs: $130,000.

Foreclosure for Sale – Spacious Colonial on Secluded Lot

Sarah — Thu, 07 Apr 2011 01:54:06 +0000

Spacious colonial on secluded lot in East Stroudsburg. Over 2,800 square feet with 4 bedrooms and 2.5 bathrooms. Features include large master suite, finished basement, attached one-car garage, dining room, expansive back deck and more, all located on over two acres with a stream. Total estimated price, with repairs: $180,000.

Foreclosure for Sale – Cozy Contemporary in Private Community

Sarah — Thu, 07 Apr 2011 01:46:18 +0000

Cozy Contemporary in Penn Estates in East Stroudsburg, PA. Over 1,800 square feet with 3 bedrooms and 2 bathrooms. Features include wood-burning fireplace in living room, large kitchen with lots of cabinet space, cathedral ceilings, loft, wood floors, bright skylights and more. Located in a private community with lake access, tennis courts, clubhouse, 24/7 security and more. Total estimated price, with repairs: $135,000.

Why You Can Expect Great Deals in Foreclosures This Spring

Sarah — Wed, 23 Mar 2011 22:54:32 +0000

Spring is always a popular season to look for a new home, and this spring may be one of the best in nearly a decade for buyers to take advantage of deals on the housing market. According to the National Association of Realtors (NAR) the median price for existing home sales is $156,100, the lowest since February 2002. In addition to this, Move Inc. reported that inventory is up 13% in the past year. So what does this mean when you want to buy a foreclosure?

The main factor to consider here is competition. Banks are in the business of lending money, not owning houses. The foreclosure process itself is very costly when legal fees are taken into account, and carrying costs for properties add up quickly. Homes need to be winterized or there may be extensive and costly damage to the house, community ordinances require lawn maintenance and snow removal, acts of vandalism may affect home values, and the list goes on.

When you consider that home sales dropped 9.6% in February, also according to NAR, it becomes clear why banks need to price foreclosed property aggressively. This is the best way for them to rid themselves of the costs and aggravation associated with holding inventory as quickly as possible. This motivation, in conjunction with the lowest median home price in almost a decade, creates a great opportunity for any buyer considering a foreclosure purchase. Add in low interest rates and lending programs designed specifically for buyers wishing to renovate their new home and you can see why considering a foreclosure for your new home is a smart idea.

Pennsylvania in particular is a hot spot for finding great deals on foreclosed homes. According to RealtyTrac, buyers in Pennsylvania who bought a foreclosed property in February 2011 paid 40% less on their homes’ purchase price than the average purchase price. This makes Pennsylvania the fifth highest ranked state in the country for saving money on foreclosures.

If these numbers appeal to you and you’re interested in learning more about buying a foreclosure, please feel free to contact us for more details or browse our inventory and see what deals we have available!

Foreclosure for Sale – Well-Maintained Cape Cod

Sarah — Wed, 23 Mar 2011 15:06:20 +0000

Well-maintained cape cod home. 1,400 square feet with 2 bedrooms and 1.5 bathrooms. Features include an attached one car garage, fireplace, formal dining room, and yard with fence. Located in a private amenity-filled community, including lake and beach access, pool, tennis courts, and 24/7 security.Total estimated price, with repairs: $110,000.

Foreclosure for Sale – Huge Open Contemporary, Beautiful Stream Views

Sarah — Wed, 23 Mar 2011 00:56:01 +0000

Huge open floor plan contemporary with beautiful stream views. 4,000 square feet with 5 bedrooms and 3.5 bathrooms. Features include open main floor with cathedral ceilings, fireplace, loft, large master suite, 2 car garage, and half-acre lot adjacent to stream. Located in a private community with lake access, tennis courts, clubhouse, 24/7 security and more. Total estimated price, with repairs: $230,000.

Foreclosure for Sale – Spacious and Open Colonial

Sarah — Tue, 22 Mar 2011 14:49:24 +0000

Spacious and Open Colonial located in Saw Creek Estates in Bushkill, PA. Nearly 3,000 square feet with 4 bedrooms and 2.5 baths. Features include large kitchen, spacious layout, formal dining room, expansive master suite, back deck, two-car garage and more. Located in a private community with lake access, tennis courts, clubhouse, 24/7 security and more.Total estimated price, with repairs: $169,900.