Buying those bargain-priced properties can take months. Also, once-stubborn sellers of homes not in foreclosure are dropping their asking prices to better compete with distressed properties, real estate agents say.
"I've had three or four recent buyers who specifically didn't want to look at foreclosed properties," said Michael Citron, an agent in Parkland and Coconut Creek. "I do feel that buyers are starting to get the idea that a foreclosure or short sale might not always be the best deal."
Scott Agran, head of Lang Realty in Boca Raton, said he hasn't noticed a drop in demand for foreclosed homes. Rather, there are fewer sales because banks have been slow to put these distressed properties on the market.
"We've been waiting for 14 months for foreclosures to be released in bulk, and it just hasn't happened," he said.
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