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South Barrington Foreclosures – Are You Hoping To Buy a Deal?
You are not alone so I thought I could put this into a little perspective for you with a market report of distressed homes in South Barrington.
First let’s look at some statistics to give you an overall idea of the distressed property sales in South Barrington over the last two years.
- Sales in 2011 – 46
- Sales in 2012 – 56
- Sales in 2013 to date – 59
Short Sales in South Barrington
- Sales in 2011 – 6 (13%)
- Sales in 2012 – 7 (12%)
- Sales in 2013 to date – 4 (7%)
Foreclosure Sales in South Barrington
- Sales in 2011 – 5 (11%)
- Sales in 2012 – 3 (5%)
- Sales in 2013 to date -2 (3%)
We get a lot of folks searching for foreclosures and short sales in South Barrington, we understand that. There has been so much hype and publicity about it, however South Barrington while not immune has not seen as much inventory available in the distressed real estate market.
Take a look at the stats above and you’ll notice that 2012 saw a decline in distressed sales over 2011, 2013 is also showing a further decline. Do you still hope to find South Barrington foreclosures to buy? You might be waiting a very long time. Don’t forget to add your criteria to your purchase and the chances are you are never going to get one. Perhaps a better idea is to buy a South Barrington home while the interest rates are low. Jumbo loans are very close in percentage rate to regular loans. Bite while the rates are low and prices low, there is only one way from here for both and that’s UP!
While on the subject of mortgages, jumbo loans are more freely available now than in the last few years. Ask me if you would like to be connected with a jumbo loan South Barrington mortgage specialist.