This can be a really big question when considering your next Real Estate purchase. Most buyers will take the traditional route of going out to the retail marketplace and choose from the inventory that’s currently out there. Most buyers have heard that foreclosure properties are the best way to go. It is also said that bank owned properties can be a real opportunity to secure a good deal. But, How Good are Foreclosure Deals?
Let me say first that it will be governed by the current market conditions. During the last Real Estate downturn in 2008 and 2009 the foreclosure market was really HOT. After a few years and a very very very large government bailout the market began to turnaround. During 2009-2012 or so many of these foreclosed upon properties were purchased by investors. At one point investment groups were buying up all these properties. This changed when the inventory started to dry up and financial tensions eased.
However, in all markets, whether good or bad there will be foreclosures. The personal circumstances can be that of an illness of the primary income earner. It could be divorce, loss of a job or transfer. It isn’t known how many these individuals cases that may occur in any given year. However, it is known that it will happen each and every day. The question is , if you are looking for foreclosure properties in any state in the US how are you going to find properties that meet your needs?
You could put an ad in the newspaper, maybe place an ad on Craigslist or cold call what may or may not be properties in distress. You could reach out to banks and let them know that you are looking for distress and foreclosed properties. Keep in mind that when you make offers via bank or foreclosure where you are buying on the courthouse steps, you’ll need to pay for the property in cash within a very short period of time.
The other alternative to locating properties are reaching out to local Real Estate agents and brokers. However, think about this. If a real estate agent determines that a property owner is in distress and or the property is moving towards foreclosure, do you believe that you will be the first person that they call? I would say, probably not. They will reach out to one of their preferred client’s and or a friend or family member. In many caes they will attempt to buy the property themselves. Sure, this may seem a little unfair or unethical, but that’s simply the way it is.
There is any alternative, on this page you will find a search engine that’s tied to Foreclosure.com Here’s a little information about this amazing service:
How to find the best real estate deals first, well before they hit the mass market.
As you know, perfect timing – not just “location, location, location” – is critical when it comes to purchasing a new home and/or investment property at the right (lowest possible) price. That’s because competition drives prices up., we target low-priced distressed deals – bank-owned homes, government foreclosures (Fannie Mae, Freddie Mac, HUD, etc.) preforeclosure listings, real estate owned (REO) properties and foreclosure auctions, among others – and pass them (and huge savings) onto smart homebuyers (that’s you!).
It’s so simple to find the best real estate deals in your area with our search tool It’s one easy search!
And that search can be performed at the state, county and city levels – even the exact address and/or zip code – so that your house hunt hits the ground running. Once you start digging into the incredible foreclosure deals, each listing will be complete with asking price, exact location, number of beds / baths, property type (single-family foreclosure, etc.), available photos, tax roll information, helpful neighborhood / school district details and so much more. Indeed, we provide as much information as possible so that you can make the most informed decision possible.
Our search tool updates its nationwide database of foreclosure listings at least twice EACH DAY!
Not weekly or monthly like other sites out there. This ensures that we offer prospective homebuyers and investors with the freshest, hottest deals on the Internet. In fact, most of our information comes direct from hundreds of corporate sellers and multiple government agencies so that you can score the deal of a lifetime – in some cases foreclosed homes for less than $60,000! Whether your looking for a single-family home, condo, townhouse, or even searching for mobile homes. our search engine keeps the most up-to-date listings of all property types. The best part about searching for foreclosures is that we make the experience so simple that anyone can do it. And if you run into a problem or have questions you can always call or email us.we are eager to help you achieve your American Dream of affordable homeownership. Call us today … or any day!