Umpteen Alluring Options for Homebuyers
Fayetteville real estate market presently has 632 foreclosure listings and properties advertised for imminent sale through its ongoing property auctions. These foreclosed homes have a tempting median listed price of just $83,000. That’s perhaps as low a home price as any that you could have hoped for! In addition, there are 2,483 other FSBO {for sale by owner} houses set for auction in Fayetteville at the median asking price of $154,900. This strikingly illustrates that the seized homes are being sold at practically half the going rates for other houses. The popularity of the foreclosure auctions as the emerging first choice in the aspiring homebuyers’ search for their fancy homes is easily explained by the fantastic discounts that they offer.
The city of Fayetteville is the county seat of Cumberland County, in the US state of North Carolina. The city sports the evergreen sobriquet of “All-American City”. The city is situated close to the Sand Hills in the western portion of the Coastal Plain area along the river Cape Fear. The Fayetteville MSA {metropolitan statistical area} is the fifth largest MSA in the state. Prominent suburban areas of Fayetteville comprise Raeford, Spring Lake and Hope Mills. Counties that adjoin Cumberland County in North Carolina are Moore County, Harnett County, Hoke County, Sampson County, Roeson County and Bladen County.
The Cumberland County is divided into the following 11 townships, which are among the suburbs of Fayetteville: Seventy-First, Beaver Dam, Rockfish, Black River, Pearces Mill, Carvers Creek, Manchester, Cedar Creek, Gray’s Creek, Cross Creek and Eastover. Fayetteville’s other sundry suburban communities include Ashley Heights, Fort Bragg, Wade, Eastover, Stedman, Vander, Linden, Silver City, Bowmore, Godwin, Dundarrach, Five Points and Falcon.
Simple Economics of Amazing Discounts
The seized houses in Fayetteville had been foreclosed mostly by various banks. Such properties merely represent NPOs or nonperforming assets for the banks. In these times of lean credit supply in the US economy, the banks are naturally keener than ever to convert such locked capital into liquid assets through their public auctions. The remainder of the foreclosed properties had been variously seized by the VA, HUD, Fannie Mae, Freddie Mac and Sheriff. Even these agencies remain in a hurry to recover the balance of the loan amounts due towards the foreclosed properties. Hence, the auctioneers list such homes on the basis of the pending loan amounts. This invariably translates into amazing discounts over the customary market prices, which prospective homebuyers find irresistible investment offers.
A key role is played in the Fayetteville real estate listings auctions by T. Patrick Murray, Kevin Thompson, Thomas Murray and Alan Tucker. They are counted among the most influential property brokers active in the city. As agents trusted and sought after by both the sellers and buyers of properties, they can considerably influence buyers’ decisions and determine the outcomes of umpteen property transactions. The foreclosure auctions are akin to a mesmerizing but confusing maze to prospective homebuyers, particularly the first-timers to real estate investments. An agent’s wise counsel, stemming from her vast and varied experiences and insights, can help you to reap the most bonuses from your property investments.
