Dallas Metroplex is a really “hot” market, and has been for a few years now. But, even in a hot market there are still foreclosures (REO) listings available. Some are very good deals, some are listed and sold at market price. Regardless how good is a market, always have been and always will be foreclosed homes available.
Right now you can find the Metroplex 122 foreclosed homes for sale: 49 are in Dallas county, 8 in Collin county, 50 in Tarrant county, 4 in Denton County, 8 in Grayson county, 3 in Rockwall county. The MLS has a list of 354 REO’s, which covers a wider area, like Wood county, Coleman county, Comanche county and many others. There are 366 other foreclosed listings under contract at this time.
My main area of operation is Dallas and Collin counties. In these counties you can find foreclosures from $40,000 to $1,734,000. Also, there are more listings in the pipeline. But, general public is not aware about it until the listing active and available for everybody to see it. That is the moment when the rush begins, if is a good deal. As a buyer you have to see the property, to asses the condition, do some due diligence to find if is worth bidding on it.
In my daily routine, few times a month I came across the foreclosures in pre-marketing stage, which generally nobody knows about it. Those are the properties, that I check and most of the time I can offer an assessment about the defects and what is needed to be done. At the time when that property will hit the market, you as a buyer will know if is worth your time to make an offer or not.
Here are 3 properties that will be on the market in the next 30-45 days.
Foreclosed home in Dallas that needs a complete remodeling. this house is locate din Lake Highlands Estates. In this neighborhood homes are selling between $215,000 (bad shape) to $990,000 (all remodeled). This is a good deal.
Foreclosed home in Allen.This home will need remodeling, but costs will be reasonable. Depending on the listing price, could be a good deal. Recent sale in Tis neighborhood have been between $127,500 and $190,000.
Foreclosed home in Murphy with a pool. Some repairs are needed. Here, probably the selling entity will do the basic repairs and price it at the market value. good deal for a buyer looking for good schools and a large house, even at the market value.
For addresses, other details and pictures you will need to contact me. There is no cost, and only one condition.