Peering in the BENEFITS of Foreclosure

FORECLOSURE FOR SALE???

Are you a smart buyer? Your looking for great house, in the perfect location, good school district and the opportunity to purchase at a Steal! Then you are looking for a foreclosure and possibly even a short sale, but we will discuss that in a different post.

Its no secret that over the past 5 years we have seen a substantial rise in foreclosure activity. What is a secret is how good the gravy train has become. The days where every foreclosure was rife with mold, feces, rodents, banged up walls and stolen appliances is no longer. Sounds creepy right...and at one time it really was a, "go at your own risk" game, but the game has changed. The question is, Have You? Good quality homes which have been fixed and repainted are abundant as Foreclosures in the marketplace. Banks have realized they are competing and they want to introduce the property with the most appeal when it is initially listed. They no longer are looking to waste days on market with cruddy properties that get passed over because Mr. and Mrs. Homeowner just aren't out for that much of a challenge. These properties are still offered at bargain pricing over Fair Market Value homes. The best part is that they are ready for occupancy.

This doesn't eliminate the possibility for further negotiation regarding price. The bank is not sentimental nor are they emotional, they simply want to move inventory as quickly as possible. So does the idea of paying less money for a home in a desired location with the amenities you are looking for appeal to you? It should and it is possible in our current market trend. The time is now to jump in and get your feet wet. 

FORECLOSURES EXIST IN ANY TYPE OF NEIGHBORHOOD

Investors and luxury home buyers a like have an advantage in this market. The probability of purchasing higher end homes at a value half of the original price is in demand and is happening now. One subdivision that this is taking place in frequently is Westwood of Bowie. Better known as Woodmore North. These properties retailed 5 to 7 years ago for a million or more. Now they are selling for 599,900. Many of these gorgeous properties sit on over an acre of land.



Looking in Potomac, Chevy Chase, Bethesda? The value is not as extreme however we have seen a 30% to 40% decrease in value up over the last 5 years.

Smart business people are seeing the real estate market for what it is, a quality investment strategy. The speculation that drove us to outrageous marketing trends of 30% increases or greater month after month in the economic boom doesn't exist any longer. Now we have a stable market with incremental increase that make sense and home prices that are historically low. Not to mention the incredible low interest rates that ride along side this market, making for a win win situation.

We don't know when the market will rise again but those who take advantage of this foreclosure market will be in the position to cash in on wealth when it does.

Looking for Foreclosures? Go to our website and sign up a free list in the area of your choosing.  Foreclosure List Now

The Benefits of Foreclosures are abundant the opportunity is now. Will you take advantage of it or sit on the sidelines? The choice is yours. Inbox us for questions. nataliedean@mris.com