More Mortgagee Listings Go Under Hammer But Buyers Come Up Empty As Sellers Refuse To Blink

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Well, this is a rather long article. We will just keep it short. This article basically shared that despite having more mortgagee listings in time of this Covid-19 pandemic, there are no distress sales as sellers and banks stayed firm on their reserved prices. With mortgage repayments deferment which will relief owners till end 2020, it makes sense for owners to apply for it and adopt a wait-and-see mentality rather than to sell their properties now at a lower price. With that, the drop in property prices is expected to be rather mild. The article suggested that buyers will grab if prices drop 5-8% below valuation. What do you think? Feel free to contact us for a discussion.

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