A bitter reality of the economic changes we have been going through is the growing number of homes up for sale, repossessed by the lenders and listed under power of sale. At any time in the past ten years the number of power of sale listings registered through the Barrie and District Association of Realtors rarely climbed above three.
As of this afternoon the number of residential properties under power of sale was 42, down slightly from earlier this year. The opportunity for obtaining a property at the lower end of market value or less presents itself as it is in the best financial interest of the lenders in possession to unload the property and eliminate the costs and liabilities associated with having a home sit vacant for a long period of time.
Donald Trump spoke this week on a morning talk show about the opportunities that exist in the current market for those with the cash or leverage to take advantage.
If you would like to be notified of all existing power of sale properties registered through the BDAR as well as be notified instantly by email when new POS properties come onto the market then visit HotBarrieListings.com and enter your personal property preferences and in the comments field indicate “POS properties only”
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