Today many of these foreclosures are newer homes and in excellent shape. Not to say that they still arent out there, but the day of a foreclosure property being something that should be torn down or condemned is almost gone.

Many of these properties could be considered an excellent investment. Often the bank will sell them for less because banks are not in business to own homes. Actually there is legislation that prevents banks from extending new loans on several times what the value is of a property that is on their books. Because of this banks are ready and willing to sell quickly and often times at much lower than current market prices.

The process of purchasing a foreclosed property is quite similar to any other real estate purchase. You can finance with a regular home loan (don’t forget that interest rates today are at an all time low!!). You will be given adequate time to do inspections of the property, which is always very important at any time. There just might be a bit more paperwork involved which makes hiring a knowledgeable professional to represent your best interests and guide you along the way the smartest thing to do.

Don’t wait…this market won’t be here forever and if you want to buy now is the time!!

Posted by Christine M Henderson on March 15, 2009 at 06:17 PM

About Christine M Henderson
The search can be exhausting...looking for a Real Estate Professional who will combine integrity with the process, as well as someone who keeps YOUR wants and needs foremost in their minds! I would like to think that I am that person (or so my many clients have told me). From making sure that the properties you look at fit your criteria, keeping in contact with you throughout the process, to sitting with you at the closing table...we will be partners all the way. I truly believe in "going that extra mile" in order that YOU, my client will have the smoothest transaction possible




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