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Time For YOU To Get Into The Game

Posted on | December 27, 2010 | 10 Comments

Real estate investing is undoubtedly one of the quickest, yet safest way to create enduring, financial wealth.  As the  real estate  bubble in the  United States  has begun to burst, the foreclosure rate has soared. The housing boom saw unparalleled growth from 2001 to 2005.  Prices for real estate will ALWAYS GO UP regardless of the state of the market right now.  Bank  foreclosure listings  are a new concept which has recently emerged in the  lending business.  Bank foreclosures   refer to listings of those homes or properties for which the homeowner has  failed to make the repayment of the bank’s loan taken to purchase the property.  Bank foreclosure listings  are issued  for such properties so that the bank can sell them in order to get back its loan  amount. The listings which are issued for such properties are lesser than the  current market price of the property in order to induce prospective buyers to  make considerable profit from the purchase of the property. Usually the foreclosed bank prices are at  65% to  80%  of the current market price of the property.

I Want YOU To Make Money

I Want YOU To Make Money

Purchasing foreclosed homes can be a great experience if you take the time to educate yourself on the complexities of buying foreclosure homes.  Take as much time as you need and be patient because your quest for  cheap homes  has just begun.  The growing market of  foreclosure properties  is becoming more popular to consumers like you and me.  It is never too late to gain knowledge and great rewards by learning more about foreclosed homes for sale.  You can also locate houses from the convenience of your own computer.  In one place you will have online access to a nation-wide database of foreclosed homes for sale with addresses, prices and full contact information  If you are thinking about buying a foreclosed home, the first thing you must do  is find a helpful  foreclosure list .  Lists are available on many websites.  These sites provide users and  members with information that has been collected from banks and other lending  institutions all over the country.  The great thing about resources like these  is that they allow you to search for homes outside of your area.  So, if you  live in  New York  and you want to purchase a  vacation home in  Florida ,  you can find all the  foreclosure listings  you need. Most of these sites are  extremely easy to use as they offer members access to comprehensive databases  that can be searched at any time.

Approximately one-third of the property being foreclosed upon in California is rental property.  Under  current California law , most tenants are entitled to a 60-day notice of eviction after foreclosure.  The new federal law provides that the lease survives the foreclosure, except where a purchaser seeks to occupy the premises, in which case the lease can be terminated and the tenant given 90-days notice.

The great thing about public auctions is that homes typically sell at below  market prices because lenders are desperate to unload them and recoup at least  some of the money they lost in the original loan.  As you might expect, with  housing foreclosures still near record highs, these kinds of auctions are  fairly common.  The simple truth is that most large banks have a surfeit of   foreclosure home  that they simply must get rid of.  Tax foreclosures are real estate foreclosures that have been foreclosed upon by a municipality or city due to the homeowner’s inability to pay the real estate taxes on their home.  If a homeowner does not pay their real estate taxes, the city will either foreclose on the property themselves or the city may sell the taxes in the form of tax liens to other real estate investors.  These unpaid tax liens are called tax lien certificates.  By investing in tax lien certificates, a real estate investor can either make 16%-25% return on their investment or foreclose on the property for less than 10% of the market value.  It’s a win-win situation for a real estate investor  In a survey released Tuesday, nearly half, or 49% of U.S. adults surveyed for two real estate Web sites are at least somewhat likely to consider buying a foreclosed property.  That’s up from 45% in May  Buying residential foreclosure homes is preferred by all owing to the many advantages that come with it.  Banks also try to avoid the maintenance cost by disposing the foreclosed homes in their inventory quickly.  Foreclosure listings give accurate information about the foreclosure homes that are available in any region. More than 930,437 properties were hit with a foreclosure filing in the July-September quarter of the year — that includes a default notice, repossession or scheduled notice.  A. total of 288,345 properties were lost to foreclosure in the period, the most since the bust began.

Comments

10 Responses to “Time For YOU To Get Into The Game”

  1. Tony Orlando
    December 27th, 2010 @ 8:44 pm

    Thanks for posting the article, was certainly a great read!

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    December 27th, 2010 @ 9:01 pm

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    December 27th, 2010 @ 10:01 pm

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