Discover Foreclosures On The Net
The recent economic climate is providing great opportunities for savvy investors. Right now there is an oversupply of empty, under-priced and foreclosure listings of properties in nearly every market in the United States. These properties are available at every price level and in every condition.
Now while the real estate market may have recently been in a downward spiral, it is rather unlikely that it will continue its downward trend indefinitely. Economies and markets do have trends and the current down cycle will eventually turn itself around. When it does the person who invests now and takes advantage of these foreclosure listings will be the one ready to take advantage of the increasing prices. Now is the time to purchase real estate and especially foreclosure listings because basically real estate is currently "on sale".
There are a few ways to purchase these under-priced properties and foreclosure listings. Right now there are homeowners who are essentially "upside-down" on their mortgage. In a pre-foreclosure sale a lender will allow a homeowner who is delinquent on their payments to sell the home and pay the proceeds back to the lender. If the home will only sell at a price that is less than what the homeowner is obligated to on the mortgage the case is called a "short sale". There are many short sale opportunities available right now. Look at your local MLS or contact a realtor.
Another way to get a great price on a foreclosure listing is to buy at a foreclosure auction. A foreclosure auction takes place at the nearest county courthouse. The property is auctioned off to the highest bidder and the selling prices are usually quite acceptable. Many times the competition is low and the only other bidder may be the bank that holds the note. The only concern is that these homes are sold "as is" and if there are any needed repairs the investor will be liable.
If there are no takers besides the bank at the foreclosure auction the bank will have to sell the property themselves. Most of them will use a realtor but as extremely motivated sellers they will lower the price as necessary until the property sells. Some of these properties have had repairs completed but some will need repairs. Make sure and complete the proper inspections on any foreclosure listing that you buy.
Unlike the stock market when you buy real estate no matter what happens to the economy you will still have the property and it will still retain some value. Real estate will never lose 100% of its value and the value will eventually ease back up. People will always need a home to live in. Because of this, real estate and notably foreclosure listings can be a smart investment in these uncertain economic times.
Whenever you buy real estate and regardless of how or whom you buy it from you should always make sure and do your own due diligence. You need to make sure that applicable inspections are completed and that your funds are in order whether you use bank financing or cash.
Foreclosure listings are offering up a great opportunity for the intelligent investor right now in almost every major city in the United States. Potential profits are high when the prices on foreclosure listings are so low. Real estate is now "on sale". - 23222
Now while the real estate market may have recently been in a downward spiral, it is rather unlikely that it will continue its downward trend indefinitely. Economies and markets do have trends and the current down cycle will eventually turn itself around. When it does the person who invests now and takes advantage of these foreclosure listings will be the one ready to take advantage of the increasing prices. Now is the time to purchase real estate and especially foreclosure listings because basically real estate is currently "on sale".
There are a few ways to purchase these under-priced properties and foreclosure listings. Right now there are homeowners who are essentially "upside-down" on their mortgage. In a pre-foreclosure sale a lender will allow a homeowner who is delinquent on their payments to sell the home and pay the proceeds back to the lender. If the home will only sell at a price that is less than what the homeowner is obligated to on the mortgage the case is called a "short sale". There are many short sale opportunities available right now. Look at your local MLS or contact a realtor.
Another way to get a great price on a foreclosure listing is to buy at a foreclosure auction. A foreclosure auction takes place at the nearest county courthouse. The property is auctioned off to the highest bidder and the selling prices are usually quite acceptable. Many times the competition is low and the only other bidder may be the bank that holds the note. The only concern is that these homes are sold "as is" and if there are any needed repairs the investor will be liable.
If there are no takers besides the bank at the foreclosure auction the bank will have to sell the property themselves. Most of them will use a realtor but as extremely motivated sellers they will lower the price as necessary until the property sells. Some of these properties have had repairs completed but some will need repairs. Make sure and complete the proper inspections on any foreclosure listing that you buy.
Unlike the stock market when you buy real estate no matter what happens to the economy you will still have the property and it will still retain some value. Real estate will never lose 100% of its value and the value will eventually ease back up. People will always need a home to live in. Because of this, real estate and notably foreclosure listings can be a smart investment in these uncertain economic times.
Whenever you buy real estate and regardless of how or whom you buy it from you should always make sure and do your own due diligence. You need to make sure that applicable inspections are completed and that your funds are in order whether you use bank financing or cash.
Foreclosure listings are offering up a great opportunity for the intelligent investor right now in almost every major city in the United States. Potential profits are high when the prices on foreclosure listings are so low. Real estate is now "on sale". - 23222
About the Author:
Austin Butler lost a ton of money in the stock market but recouped many of her losses by getting a foreclosure list from her city. She currently owns 3 rental properties and is in the process of acquiring more.
posted by X - Men @ 12:10 AM
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