- The real estate foreclosure market in the Poconos Mountains
is unlike that of almost any other market in the U.S. This article
will be of interest to: Buyers thinking of purchasing a foreclosure,
Banks and other sellers who have foreclosures to sell, agents
contemplating selling a foreclosure to a client and those doing
research on foreclosures in the Poconos in general.
lower on the page you will find the MLS report on the available
foreclosures in the Poconos, this list will include foreclosures
in East Stroudsburg, Monroe County, Tobyhanna, Mt Pocono, Stroudsburg,
Cresco, Canadensis and all the areas surrounding these cities
and villages. The list is updated nightly so please check back
often for changes. You may contact Rick Golden of USA Realty for
information on any of these foreclosures for sale. Rick is a foreclosure
sales specialist and works for buyers and not the selling banks.
He is experienced in obtaining the best price for his clients.
Here is what
makes foreclosures in the Poconos different than other areas.
First, this is a very large second home market. This fact means
two things, there are lots of foreclosures because second home
mortgages are the first ones not to be paid when a homeowner get
in trouble and these homes are often in poorly maintained condition
when repossesed by the lender. Second, the Poconos Mountains are
a very large geographical area of 2400 square miles. Lots of ground
to cover for the sellers when attempting to foreclose and buyers
since abandon homes are fair game for raiders looking for copper
pipes and wires, many times these items are missing and must be
replaced prior to a purchaser obtaining financing when buying.
As this is
being written (and the numbers change constantly) there are 2967
total homes for sale in the Poconos MLS of those 482 are foreclosure
or short sale (pre foreclosure) listings. About 16 % of the available
inventory (about 1 available home in 6 is a foreclosure or short
is the current list of foreclosures available in the Poconos:
Check back in a day or two for the rest of this information on