Investing In Pre Foreclosure Homes

October 27, 2010 By

Land in pre foreclosure provide a good opportunity for real estate property investors If you have the fortitude to go through the process, buying a pre foreclosure has numbers advantages over other types of investment properties When an owner of a potential investment property is in pre foreclosure, they are extremely motivated to sell, are often willing to take an extremely low offer just to be rid of the property. This often results in a significant opportunity for the buyer. The only challenge is getting the bank to accept the offer to purchase instead of foreclosing on the home

The lender that owns the note on a property facing pre foreclosure have a much different view on the opportunity.Essentially they are in a lose lose situation and will evaluate sales offers based upon what will minimize their losses. If a property owner has put the property into pre foreclosure by not paying on the mortgage, it is still up to the buyer to demonstrate that by allowing the sale to go through, the bank will minimize their losses.

Because of this fact, investors that purchase homes in pre foreclosure often put together full short sale packages to provide to the bank. They get to know the loss mitigation agent of the bank that owns the property, and learn what is needed by the bank to complete the transaction.

Many investors find people to help them get started when buying pre foreclosures While this is not necessary for the periodic investor, it does have a visible benefit for the novice real estate investors.

Aside from market factors, the pre foreclosure market is a great way to get a good bargain on an investment property Just know that there are a number of little details that will determine your overall level of success.

Depending on your investment goals, there is no end to the number of investing resources available to you. It is just up to you to get started.

To find out more about how to profit from pre foreclosure click on our Real Estate Investment Website today. Along with to investment tools, real estate investors receive our free real estate software, a ninety-nine dollar value.

Filed Under: Investing, Related News Tagged With: , , , , , , , ,

Can I get a house in Phoenix for less than a car?

October 26, 2009 By

The average price of a new car in 2009 was $28,400. The average price of a house sold in the Phoenix are in 2009 to date has been $169,118, but that does not mean you cannot get a house for less than the price of a new car.

As of 10/25/2009 there have been over 2,050 houses that have sold for less than the price of an average car. While prices in the Phoenix area have gone up an average of about 12% since April, that does not mean there are not plenty of opportunities to still pick up these low price homes.

Today as I write this there are more than 300 properties in the Phoenix MLS for sale for less than $28,400.  You can check here for houses that you can buy for less than the price of an average new car.

Filed Under: Phoenix Housing Market Tagged With: ,

Bidding wars are driving up Phoenix foreclosure prices, but many houses still available under $70,000

July 21, 2009 By

under70k Bank owned foreclosures are coming on the market at a fast rate in Phoenix, but they are being snatched up as fast as they are coming on the market. It is rare to see a foreclosure under $100,000 come on the Phoenix market and not be under contract in a week. That does not mean there are not deals to be had though.

Many investors right now are looking for houses in the Phoenix market under $70,000. While a home coming on the market at $70,000 is likely to sell above that, there are still plenty of homes to chose from.

At the time of this writing, there were 1,006 active single family detached homes in the Phoenix market with at least 3 bedrooms and 2 baths. These houses are a hot commodity for investors and first time home buyers. You no longer need to go searching, by clicking on this new link we created for single family detached homes with 3/2 you can see all the active listings on the MLS. As the houses are added they will automatically be added here.

Within this search this search you will be able to search even further. So go ahead and book mark this page and come back any time to see what is on the market today.

Filed Under: Phoenix Housing Market Tagged With: , ,