Don’t Get Tricked When Looking for a Foreclosure Treat
October 30, 2009 by Lee Davenport
HGTV’s real estate Web site Frontdoor.com has identified what it calls the “tricks and treats” of buying a foreclosure:
Tricks to avoid:
**Just because a foreclosure has a low price tag doesn’t mean it’s a bargain. Many need lots of expensive repairs.
READY TO BUY? REOs Expected to Flood Market
February 3, 2009 by admin
Mortgage lenders are likely to put their growing supply of repossessed homes up for sale in the months to come.
According to the Mortgage Bankers Association, 10 percent of home loans was either delinquent or in the foreclosure process at the end of September. Plus, Fannie Mae and Freddie Mac saw repossessions grow nearly 25 percent to 15,196 homes from the second quarter to the third quarter of 2008.
BUYING FORECLOSURES - Tips in this Market
October 26, 2008 by Lee Davenport
1. Be willing to drive various neighborhoods before involving a real estate agent
You will get the most benefit out of the relationship with your agent if you have already driven various communities and have pinpointed what neighborhood you desire to live or invest in. In this market, there are thousands of foreclosures available (unfortunately for the previous owners) so one of the best ways to narrow your prospects and save your time is to determine first what neighborhood you desire to purchase in.
Lee Davenport
