Foreclosure Lowballing A Thing of the Past in Beaufort, SC

Last week, right here at www.lowcountryproperties.com, I blogged about a condo listing in the Beaufort, SC community of Azalea Square for $38,900. In the same blog, I very sagely predicted the listing was such a steal that it wouldn't last a week.

It lasted a day.

This condo was a no-brainer. There are currently 12 condo homes listed in Azalea Square, from $75,000 to just over $136,000. So, to be able to pick up a condo home -- in excellent condition I might add -- for under $40,000 is an opportunity which may not come available again for a while.

Folks, there is a moral to this real estate story. Mr. and Mrs. Real Estate Buyer, don't think you can waltz in and lowball these foreclosures.

Banks and their Realtors here in Beaufort have had plenty of time to refine the foreclosure process, and they are doing a phenomenal job of pricing these properties to sell. So, when a nice condo hits the market at $38,900, don't expect to get the property at $20,000. Don't expect to be able to plan a trip in a week or two to view it. Nowadays, more and more serious buyers are waiting, cash in hand, to pounce on these Beaufort foreclosures, as they hit the market.

In fact, a great marshfront property at 1503 Walsh Drive in Beaufort went on the market at $100,000, and by the end of the business day Monday, it had multiple offers.

There are some great deals out there, but you buyers and investors better be ready to move fast when you see something of interest, because, in a lot of cases, it won't last long.