Vacant for Nearly a Year??
What makes this particular situation worthy of note is that the property was posted by the property preservation so long ago. I don't really understand why banks are waiting so long to proceed with foreclosure but it does bring up a troubling question: How many more homes are just waiting to be placed on the market at some point in the future? My guess is that this isn't a small number but I also suspect that the banks are only waiting this long on the very least valuable properties they have taken back. I certainly wouldn't want to just sit on an attractive valuable home and leave it to just languish if I were the bank.
With new foreclosures coming in almost every day we will have a good inventory for buyers to pick from going forward. One of my favorite properties that isn't on the market yet is a two bedroom, one bath log home in Wears Valley. Sitting on top of a nice ridge on a five acre lot this cabin has an excellent view and total privacy. It even has a small detached garage! While we don't have a price yet I do believe it will sell quickly when we get the price. Stay tuned to this blog for updates but here is a picture of the Wears Valley cabin as well as some other "Coming Attractions":
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