Today everyone is looking for a good deal. To most people that automatically means "Look for a Foreclosure", but that's not always the case.
Our area is different that most of the heaviest hit markets around the country. Yes, there are still plenty of foreclosures around, but you may be disappointed if you're looking for those elusive $250 homes.
In fact, in some situations you can find really good deals that are seller-owned. In some instances property that is still privately owned are easier to negotiate so always consider all property in your search so that you don't overlook a diamond in the rough.
Foreclosed or bank owned property is generally handled by what are called asset management companies that then list the property with a Real Estate Agent. So generally speaking in most cases Foreclosures are lumped in with all the other property available in the area.
Sometimes it is hard for individuals to buy foreclosed property because of the condition of the property. If the property needs alot of work it will require special financing and may not qualify for FHA or VA loans.
Prior to submitting any offer on a Foreclosure property you will more than likely need to have a prequalification letter from a lending institution.
It's a good idea to get prequalified for a loan as soon as possible so that if a foreclosure that you like does become available you can submit an offer quickly.
Some foreclosures stay on the market a long time and others that are priced right often go under contract within a few days of them being listed.
Can I send you a FORECLOSURE LIST? No. But, If you are in the market for a good deal on a home contact me asap and I can compile a list including Foreclosures, Local Bank Foreclosures, Short Sale Prospects, Relocation Homes, and regular listings that meet your criteria.
Lovins Realty and Investments Inc.