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Distressed Properties Fairfield County

Here is some helpful information about distressed properties in Fairfield County. According to RocketMortgage.com, “A distressed property is a home on the brink of foreclosure or already owned by the bank. Investors often seek these properties out because of the opportunity to buy a home at a discount. However, buyers are taking a risk that the property might need significant repairs.”

This explains why a standard Google search for distressed properties in Fairfield County yields results about foreclosures in the area on popular real estate websites like Zillow and Trulia. RocketMortgage goes on to say, “The easiest way to find distressed homes is by working with a real estate agent specializing in these properties.” Whether your aim is to pay for repairs or build in some “sweat equity,” you’ve got options. A seasoned agent in your area can help you find the perfect match with the right amount of repair work, potential value, and the right location for a “flip” or rental income.

Fairfield County is a prime location for all things real estate because demand is always high with people who can afford to purchase the property that fits their lifestyle needs, in many cases, regardless of the cost. This includes investment bankers from New York who want a full-time second residence. Given that 1/3rd of residents in this area rent, it seems you have options at all price points. Finally, RocketHomes market data for this area shows a 12 mo. increase in home values by 6.9% in May 2023. This means instant equity once the property passes inspection. Call today to see your options.

More insights: https://www.rocketmortgage.com/learn/distressed-property

  • See a list of distressed properties in Fairfield County that meet all of your needs today.