There are several bank owned homes for sale in Philadelphia and suburbs. It is a good time to buy but you should be cautious.
Some of the houses are priced below market price so that they will sell quickly. these may be good buys. Some are listed slightly higher. You can always make an offer on a house. It is a buyers market.
There is a difference in buying a short sale which is listed by a home owner before it is owned by the bank and a home listed by the bank directly.
When you want to make an offer make sure you get a home inspection, though you have to buy it 'as is 'and if it needs a lot of repairs see if you can obtain a mortgage. Some homes may qualify for a FHA 203k financing. There are good buys out there but you need a good agent who is experienced in selling REOs and you need the agent to show you the comps because it may not always be the best buy around. You may get a better buy from a motivated seller.
A Buyers agent can help you buy a home. Call gita Bantwal at reMax Centre 215-343-8200x124 if you are looking for a buyer's agent.
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Gita Bantwal is a Realtor with RE/MAX Centre Realtors in Bucks County, a Northern suburb of Philadelphia. You can view 1000s of listings on her web site www.GitaBantwal.com
She can be reached at 215-343-8200x124 or direct 215-275-8491 or via email firstname.lastname@example.org
If you would like a FREE MARKET EVALUATION OF YOUR HOME IN PHILADELPHIA, BUCKS or MONTGOMERY COUNTY call me at 2152758491
Gita specializes in Active adult communities and is a Seniors Real Estate Specialist. She holds the ABR designation (Accredited Buyers Representative) and specializes in selling to first time buyers as well as move up buyers.Gita also hold the CRS designation , Certified Residential Specialist and the CDPE designation as well. Information about real estate market is deemed to be correct but is subject to errors and omissions and should be verified independently.. Opinion expressed by me or others in my post and comments is not to be construed to be legal advice.I am licensed in Pa. Check real estate laws in your state as they may be different than in Pa.