There is no doubt that the last couple of years will be referred to in the future as the “foreclosure years” (among other things). Fortunately, lakefront property on Lake Greenwood has seen very few foreclosures in comparison with other areas nationwide. There are a couple reasons for this;
Prices along Lake Greenwood didn’t skyrocket as much as other areas therefore there weren’t as many homeowners overextending themselves and setting themselves up for “mortgage failure”.
The majority of lakefront buyers along Lake Greenwood over the past 3-4 years have been retirees moving here for a slower more relaxing pace. Their purchases were not tied directly to jobs or lack thereof.
Having said that, the Greenwood area has had our share of foreclosures with some still to come. Since foreclosures on Lake Greenwood have not been plentiful when one pops up it doesn’t last long. If you are thinking about buying some of the houses foreclosed in Greenwood SC or Lake Greenwood, give me a call. I can help you determine if it’s really the deal it seems to be or something that should be avoided. It’s important to have a knowledgeable, experienced Realtor watching the market for you and keeping you updated when these properties become available.
A foreclosure gives an investor the opportunity to buy low, do some usually minor repairs and have a great income- producing rental property on or off the lake. In my opinion the Greenwood real estate market has reached the bottom. That’s good news for everyone. With price reductions throughout the past 3 years and interest rates still being so incredibly low it is the perfect time to buy.
Whether you are looking to buy a foreclosure in the Lake Greenwood, SC area for an investment, a weekend home, maybe even a place to retire, it is definitely the right time to buy, you've found the right place to look and the right Realtor to answer your questions along the way. If you are looking for Government tax foreclosure properties in Greenwood, I can help with those as well. These are usually auctioned once a month on the courthouse steps of the county where the home is located.
Browse through the current listings or contact me to help you begin your search or ask me about the condition of the current market!