"Price savings on purchases of foreclosed homes are disappearing in hot housing markets like Las Vegas and Phoenix, an Internet real estate firm said.
There was no difference in September between the price of a
foreclosed home sale and a standard home sale, digital real estate firm
Zillow said. Home buyers today "will get somewhat of a deal, depending
on the market," Zillow's Chief Economist Stan Humphries said.
Times have changed in the housing market, the Los Angeles
Times reported Saturday. Supplies of existing homes are shrinking as low
interest rates attract buyers, and homeowners -- many of whom walked
away from their homes when the properties' value fell below what they
owed on their loans -- are now holding on to their properties, waiting
for values to rise again."