Find a bargain foreclosure with a foreclosure list
With interest rates at record lows and the stock market looking too perilous for small investors, many people are putting money in an asset they understand -- real estate.
One of the best places to invest is in foreclosures and bargain residential real estate. The banks are handing out houses like candy now a days.
The current market conditions make it a perfect time for a small investor to purchase one or more foreclosure properties for their private residence, rental or resale.
During economic downturns, more upscale homes go into foreclosure, so the notion that foreclosure homes are only available in crime-ridden areas is inaccurate. Beachfront homes, mountain homes, riverside homes, second homes, vacation homes, even affluent areas are part of the mix of foreclosed properties available.
But anyone considering buying a foreclosed home should forget about paying pennies on the dollar. Great blog deals abound but usually for about 70 cents on the dollar.
"You can buy foreclosures for as cheap as 30% or 40% below market, and on rare ocasions 50%, but most foreclosures sell for 25% below market," said a well known real estate expert, Charles Carpenter, based in Tampa, Florida.
Free Foreclosure Listings if you want them, and a complete course to teach you how to use them TracForeclosures.com
Yet the savings may be twofold if the property is purchased from the lender
or any one who holds the mortgage that's in default. That lender may be
willing to waive some closing costs, maybe even offer a break on the interest
rate or the down payment. Yep, the banks are giving away houses like candy.
Good News!
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