May 18, 2012
The Essentials of Foreclosure Investing
Southern California's housing slump hit a new bottom last month, despite low interest rates, falling prices, and promises of government assistance.
According to statistics, less than 10,000 homes were sold in the six-county region. That's the first time that has happened since DataQuick began keeping records in 1988. Additionally, 1 out of 4 homes sold had been foreclosed, putting additional pressure on home values.
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Those looking to buy a home today can find great deals as a result of the rise in foreclosure rates. Keep in mind, there are risks involved in buying these homes, but they can often be bargains.
You can search bank websites since banks often list their foreclosed properties for sale online.
You can also look up government-owned listings. The Department of Housing and Urban Development lists the foreclosed homes that it owns on its website as well as through local real estate agents.
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