Once upon a time, in the year 2012, the Raleigh Durham real estate market had it's fair share of distressed properties. But since the last quarter of 2014, deals on foreclosures and short sales have been harder to come by. For the general housing market and the overall economy this, of course, is a good thing. But for the buyer looking for the "deal" this is not great news.
Many of the foreclosures that hit our market were absorbed by the institutional investment operations and small investors. They say when there's blood in the street that's the best time to buy - and that's what many investors did. They took full advantage of the buying climate.
In today's market there are a few distressed properties that come up from time to time, but when they're in the right location, you have to be ready to act fast!