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In a country still bouncing back from the mortgage crisis and Great Recession, purchasing a property in foreclosure or through a short sale can seem like a no-brainer. Yet what first-time buyers perceive as a below-market property may in fact be overpriced. Markets fluctuate, so it’s important to weigh a property’s historic value against current conditions. This is yet another reason to find a real estate agent with a solid grasp of the local market.
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