Quote:
Originally Posted by IceCream
Report says real estate is going to make a comeback in NOLA:
http://www.nola.com/business/index.s...arket_wil.html
I was talking to someone i know yesterday who's very involved in real estate locally who told me the exact opposite. He said most of the banks have been hoarding their foreclosures so as to not flood the market all at once, but that they plan on dropping a bunch of them on the market as summer approaches since it's usually the good sales season. He expects that to force prices back down.
As someone that hopes to buy something over the next year or two..I'm all for it .
I'd like to learn more about buying a foreclosed home or from the Sherriff's auction. Any good resources to learn more? |
Im not sure I believe that about the foreclosures, but part of the cleansing of the system is getting through the foreclosures. New Orleans and Louisiana as a whole never had a lot of them because our job market was more stable and real estate here never inflated to ridiculous prices. No one bought a million dollar home here for a million dollars with zero down. Yeah Im looking at you California!