Where Can I Buy Homes For As Little As $10,000?

The last couple of years have seen a spurt in attendance at government real estate auctions. The concept of buying bank or government seized real estate from these auctions has gained popularity due to the realization that many kinds of real estate including family homes, multiple unit houses, apartments, townhouses, commercial properties, land and vacation homes at very high discounts. Buying from these auctions can take off almost 80-90% of the market value.

A seized property is a property which has been repossessed by the lender (could be a bank) since the owners defaulted on mortgage payments. This process is also called foreclosure. In addition to this, home or property may be seized by the government due to criminal activities or for evasion of taxes. It is difficult to believe but, properties seized annually are a few hundred thousand.

Since the volume of seized properties has risen, the banks or the government feel the burden of maintenance and resources needed to keep them secure, not to mention the enormous amount of capital involved, they try to recover some of the money by conducting government real estate auctions. This facilitates the bidders to purchase a property of their choice well below the market prices and some time up to 90% discounts on the market value.

Owing to limited publicity, the attendance at these government real estate auctions is on the lower side. Since the banks and government are trying to recover money, they are not willing to spend on publicizing and advertising these auctions. As a token, they only give a small advertisement in the local newspaper. This works out to be a great advantage to the bidders who attend since they would not have much competition to bid against and the prices will remain low as a result.

However, the year 2004 saw more publicity being attributed to these auctions on the internet. Seized property listings are now available and updated on a daily basis for members of certain websites. The details offered have descriptions, and photographs of the properties coming under the hammer.

Provided you do your homework and research well, there is no reason you can not buy a house for as little as $10,000.

Posted by Wanda Evins on December 13, 2008 at 12:00 AM

About Wanda Evins
Wanda Evins is affliated with Mel Foster Real Estate, which is located in Davenport, IA. For further assistance please use the contact information located on the right.

As of 05/22/12 the Wanda Evins RePage is ranked at 5,360 with 385 points.

Local Information for Davenport, IA

Latitude: 41.542982 -- Longitude: -90.590745

ZIP Codes for Davenport, Iowa	52801 52802 52803 52804 52805 52806 52807 52808 52809
Area Code for Davenport, Iowa	563
Time zone for Davenport, Iowa	CST

Other Area Cities: Bettendorf, IA East Moline, IL Davenport, IA Rock Island, IL

Enter our Photo Sweepstakes and Win $200 for your Davenport photos!

To see random photos for other cities Click Here.

Submit your photos of Davenport and become eligible to win $200. Click Here for details.

Davenport is a city in the American state of Iowa that borders the Mississippi River. As of the 2000 census, the city had a total population of 98,359. A 2005 estimate tells that the city had grown slightly to 98,845. The city is part of the Quad Cities of Iowa and Illinois. Davenport is the home of Palmer College of Chiropractic, the birthplace of chiropractic medicine and wellness technique. Saint Ambrose University is also located in Davenport. Davenport is the county seat of Scott County. Davenport often makes national headlines when the Mississippi River floods. It is the only city over 20,000 people bordering the Mississippi that has no permanent floodwall or levee. Davenport prefers the open access to the river for parks and vistas over having access cut off by dikes and levees. Davenport has adopted ordinances that any new construction in the floodplain must be elevated above the 100 year flood level or protected with walls. -- Source: Wikipedia.com

Iowa 2000 Census Population Profile Map

	Davenport	Iowa	United States
Population	98,359	2,926,324	281,421,906
Median age	33.6	36.6	35.3
Median age for Male	32.2	35.2	34
Median age for Female	35	38	36.5
Households	39,124	1,149,276	105,480,101
Household population	95,482	2,822,155	273,643,273
Average household size	2.44	2.46	2.59
Families	24,811	769,684	71,787,347
Average family size	3.03	3	3.14
Housing units	41,350	1,232,511	115,904,641
Occupied units	39,124	1,149,276	105,480,101
Vacant units	2,226	83,235	10,424,540

Visit US Census

Enter our Photo Sweepstakes and Win $200 for your Davenport photos!

Where Can I Buy Homes For As Little As $10,000?

Local Information for Davenport, IA

Latitude: 41.542982 -- Longitude: -90.590745

The Leader Spanish Real Estate

ATF Forex Trading

Lingerie & Perfumes

Wedding Singer

QROPS