Buyers Lapping up Foreclosed Offerings
The Lakewood real estate market presently features only 440 foreclosed homes and houses for sale. Barely a couple of months back, this figure had been close to 7,000. This indicates that the foreclosure auctions have been witnessing eager influx and frenzied purchases by potential homebuyers. The present seized homes are being offered at the median listed price of $172,513. Additionally, there are 674 other MLS and FSBO homes among the Lakewood real estate listings auctions, sporting the median asking price of a substantially higher $234,000. This proves that the foreclosed properties enjoy a discount of at nearly one-third or 33 percent over the usual housing market prices. It is the temptingly discounted prices at the foreclosure auctions that are drawing buyers to them in huge numbers all over the US.
The extreme popularity of the foreclosure auctions in Lakewood among intending homebuyers can be very easily explained. The most obvious reason is the discounted pricing of the seized homes. Buyers perceive in the government foreclosures a rare chance to be able to buy gorgeous homes that they would otherwise not have been able to possibly purchase. The auctioneer seeks through sale of the foreclosed property a mere recovery of the mortgage loan pending towards it. Hence, the seized home is listed at a price that has no direct correlation with its current market value. Buyers are delighted at such amazing reduced home offers. Moreover, the auctioning agency, like VA, HUD, Freddie Mae or a bank, is generally regarded as trustworthy by the investors. The auction procedures are transparent, smooth and fair. The transactions involve proper documentation. Hence, all these factors serve to pull buyers in huge numbers to the foreclosure auctions.
Lakewood is situated in Jefferson County, in the US state of Colorado. The city of Lakewood stands fourth in Colorado State and 164th in the entire US, in terms of its population. Lakewood is a part of the Denver-Aurora MSA {metropolitan statistical area}, which is the 15th most populous MSA in the US. Jefferson County shares its borders with as many as ten adjacent counties, and they are: Park County, Gilpin County, Adams County, Boulder County, Teller County, Clear Creek County, City and County of Denver, City and County of Broomfield, Douglas County and Arapahoe County. The chequered suburbs of Lakewood include the following places: Westminster, Littleton, Bow Mar, West Pleasant View and Kittredge.
Buyer-Agent Team at Auctions
You can hope to reap a windfall from the Lakewood property auctions only if you benefit from the professional advice that expert real estate agents can give you. There are umpteen agents active in Lakewood, and you should hire one with due care to her governmental certification. Mark White, David Binkowski, John Smidt and Lon Welsh rank among the prominent property brokers active in the city. In the ongoing tempestuous and uncertain market times, only a buyer-agent team working in coordination can expect to make the most from any foray at the Lakewood property auctions.
