We are seeing a slide of foreclosure prices which I really didn't expect until the end of this month or November. They do have stiff competition with the new construction market.
I visited one of these steals out in the heart of old Green Valley today. Three car garage, over 1800 square feet with a pool for $269K. Rental comps suggest a leased rate of $1800-2200 . It did have deferred maintenance issues so it depends on how far the new owner would go to do repairs to what it's rental value would be in the end. Supposedly they have four offers on this property and two other agents were showing it at the same time I was there.
Who says nothing is moving in this market?!?!
Disclaimer: Picture is not of actual house I was showing :)
All the Best,
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