Welcome to Real Estate Foreclosure Guide
Yahoo Real Estate Foreclosure Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Is Foreclosure Real Estate A Good Investment?
from:With the glut of foreclosure real estate in some areas which used to be prime markets, now my be the time to buy a house. However, is it time to buy more than one house? Whether you consider foreclosure real estate to be a good investment depends on whether you are willing to put up with some uncertain risk in the home and the market. It's true that foreclosure real estate can be purchased at a discount, but the risks getting in on a property after foreclosure can easily offset that savings. However, if you are handy fixing things up, or have a knowledgeable team of experts who can help you close a deal that will make you a profit, then it can be a good time for you to invest in foreclosures.
The Risks
As stated earlier, foreclosure real estate comes with its own set of special risks. When homeowners lose their homes, they often don't do it graciously. They may become so upset with the loss that they take extra pains to make the home uninhabitable. They might rip up the carpet or hardwood flooring, steal the appliances, or generally leave the house in filthy condition. Since most foreclosures do not allow an inspection of the inside the home, it's anyone's guess what you might be facing when you finally open the door to your new foreclosure real estate home. If the borrowers left it in good condition, there's still also the chance that vandals or squatters might have gotten to it during the time the old occupants left and you bought the foreclosure real estate at auction. Some homes are now being stripped by vandals of copper piping, which they get to by ripping out the electrical system first. This can add tens of thousands of dollars to the repair of the home.
The Rewards
Believe it or not, this is not enough enough to dissuade serious foreclosure investors. They typically are buying multiple homes and have a team of experts to help them navigate the problems. They may contract electricians and plumbers, as well as, lawyers for title and liens searching. Homes that foreclosure real estate investors buy may be had for huge savings, enough to make it profitable for them to replace the interior of the home, if necessary. While this is not ideal for the average homeowner, for knowledgeable investors, foreclosure real estate can be a great way to grab a home at a severe discount, fix it up, and flip it for many thousands of dollars more than it cost to fix it up.
Yahoo Real Estate Foreclosure News
Real Estate Agents See Spring Home Sales Warming
Full content sent to and hosted by Yahoo!General NewsHealth & MedicineIndustry SnapshotNew Issue AmericaReal EstateTop 10Feature StoryInvestor's Corner
Read more...First Person: I'm Expanding My Small Real Estate Business
The Great Recession knocked the momentum out of the real estate business. After limping along with our small rental investments we decided we needed to take some action to increase our profits and our holdings. While other investors were still complaining about how crushed the market had become my wife and I were determined to approach the situation differently. We decided to expand and prepare ...
Read more...First Person: We're Finally Getting Back Into the Housing Market
It's no secret that I'm no fan of home ownership. However, maybe part of my disillusionment came with the pairing of living in Cook County, Illinois (where taxes are high) or the fact that we bought in one of the worst real estate markets in US history. But more than that, I think it's the fact that in the past, it was difficult for me to see how the costs associated with buying and maintaining ...
Read more...First Person: Are You Financially Ready to Be a Landlord
Anyone can become a landlord. You don't need a specialized degree, or extensive real estate experience. When I first became a property manager I had no experience in the real estate industry and hadn't yet finished my college degree.
Read more...Game Plan To Win At Flipping Foreclosures: Sell Well
Full content sent to and hosted by Yahoo!General NewsHealth & MedicineIndustry SnapshotNew Issue AmericaReal EstateTop 10Feature StoryInvestor's Corner
Read more...