Is The Foreclosure Market Changing?

Are the days of the dirty, cheap foreclosure properties going by the wayside? A trend I have been seeing in our market is that banks are starting to do their own rehabs. They are hiring subcontractors to clean, replace carpet, paint and appliances. They are starting to price homes more in line with the mainstream. This is a problem for house flippers but I think it is having a positive affect on the values of the subdivisions. This also gives them a much larger buyer pool.

Determine Market Value

How do you determine market value in today's market? I will start with some things that do not determine value. What you paid for the home, what you would like to net from the sale, what your friends or family think it's worth. In many cases certain upgrades will not help determine the value. The value is determined by active and recently closed homes, market conditions, interest rates and your terms offered as a seller. Style and condition of the home play vital roles as well.