As of September 15, 2009 there were 11 active listings under Power of Sale in K-W. This represents a significant decline over the 19 in mid-August. Of note, all 11 were in Kitchener. As expected, the active market resulted in the sale of 16 Power of Sale properties in August versus 9 in July. The low level of homes for sale will continue to mean Power of Sale properties coming on the market will be in demand in the short term.
The home pictured above is in a desirable Waterloo neighbourhood. It was listed under Power of Sale on July 28th and sold August 10th. It attracted 7 offers resulting in a sale price $34 000 above the asking price! The remarks on the MLS listing indicate the "price reflects work required".
My next post will provide information on credit scores, how they're calculated and how crucial it is to protect good credit at all times.