Michelle Deering Shares Expert Insights On The Fort Bragg Foreclosures Market

Michelle Deering is a certified Realtor for Century 21 and the incoming President for the Coastal Mendocino Realtor Association. In this article, Deering points out the significant changes seen in the foreclosures market and how the average consumer might want to respond to the current situation.

Fort Bragg is a rural coastal community located in Northern California. Deering and her husband moved to the area in 1998 and immediately fell in love with the unique beauty of the city. “I became involved with real estate in 2004 because I wanted to help my neighbors and friends achieve the dream of home ownership,” Deering recalls. “There is also a large number of vacation home buyers and retirees looking to move here because of the beauty and quality of life. It is extremely gratifying to help them as well.”

When it comes to the foreclosures market, Fort Bragg is similar to many communities across America. Deering explains, “When foreclosures hit the consumer radar in 2006, they really were incredible bargains. Prices of foreclosures were so much lower than traditional Sellers’ listings that the opportunities for Buyers were clear to see.” She continues,  “However, over the years, price differences between foreclosures and regular sellers’ homes have leveled and these bargains are much more difficult to come by.”

When asked why this happened, Deering explains, “This is largely due to appraisers using foreclosures as ‘comparables’ and setting the price for all new listings. Often foreclosures also offer a particular set of problems; lack of accurate property knowledge, rough conditions and deferred maintenance that hinder financing, and foreclosure banks unwilling to negotiate to name a few.”

As suggested, there was a time when buyers could find great deals exclusively in the foreclosures market. However, Deering recommends that buyers should broaden the scope of their search. “If a client limits themselves to searching the market only for foreclosures today, they are doing themselves a disservice.” She adds, “My advice is always to consider all properties that offer the general details that a buyer is seeking. Price range and amenities should be the primary factor for today’s home buyer.”

Deering summarizes adamantly, “Considering foreclosures to be somehow more special or desirable no longer applies.”

Deering is an Associate Broker for Century 21 Fort Bragg Realty. She is currently the incoming President for the Coastal Mendocino Realtor Association, Public Relations Chairperson and holds an Accredited Buyer Representative (“A.B.R.”) designation. Anyone wishing to learn more about Michelle Deering is encouraged to visit her site at http://www.fortbragg-mendocino.com or to call her direct line at (707) 964-2196.