I’ve been noticing more and more signs by the roadside advertsing auctions for homes & townhomes here in the East Metro. Since this is a pretty unusual way to sell a home, I’m thinking that these are foreclosed properties that are being liquidated. A year ago or less, you wouldn’t see this in realtively affluent suburbs around here, but now I’ve seen a handful in the last few months.
As the housing glut continues around here, I’ll be very curious to see if the number of signs like this proliferate, since there are still many, many houses and townhomes for sale out here, and townhome prices seem to always get slaughtered whenever there’s a glut of them like there is now. I’m more and more thankful every day that I was able to sell my house when I did earlier this year.