By Charles Carpenter, Are you a fool? A foreclosure fool that is, someone who get the sweet deals? Hope so!
Here is a little except from some condo action down Miami way,
“Motivated” sellers are flooding online forums like Craigslist with advertisements for condo units still months or years from being finished. And lawyers have been inundated with calls from people hoping to avoid closing on units they bought during the speculative craze of 2004 and 2005.
Hidden foreclosures
Not all foreclosures are previously owned homes. Some foreclosed homes are
new. These homes are not as easy to identify and rarely appear on national
lists. In some areas, the slow economy has left many builders of new midscale
and upscale homes at the end of their construction-loan periods without
finding buyers for their homes.
Things are really shaking up this time of year, wonder what’ll happen next?
With interest rates at record lows and the stock market looking too perilous
for small investors, many people are putting money in an asset they understand
— real estate. They get there foreclosure lists and listings here
at Foreclosurestogo.
One of the best places to invest is in foreclosures and bargain residential real estate.
The current market conditions make it a perfect time for a small investor to purchase one or more foreclosure properties for their private residence, rental or resale. During economic downturns, more upscale homes go into foreclosure, so the notion that foreclosure homes are only available in crime-ridden areas is inaccurate. Beachfront and homes in affluent areas are part of the mix of foreclosed properties available.
A great place to learn more about foreclosed properties is at 123ForeclosureSearch.com
But anyone considering buying a foreclosed home should forget about paying pennies on the dollar.
You can buy foreclosures for as cheap as 30% or 40% below market, but most foreclosures sell for 5% below market,” said Charles Carpenter of Investor’s Monthly, which offers a NO Charge foreclosure mini course.
Yet the savings may be twofold if the property is purchased from the lender who holds the mortgage that’s in default. That lender may be willing to waive some closing costs, maybe even offer a break on the interest rate or the down payment. Try this for great listings in South Carolina