Government Auction Listings

Buying foreclosure properties has made more investors and homeowners richer then the majority of other types of investments available. The reason for this is simply because of the nature of foreclosures, which is that someone is forced to sell. Whenever you are forced to sell anything you automatically loose any leverage and the advantage goes to the buyer. Truth is buying foreclosures is one great method to obtain a low-priced family home that otherwise would of been priced out of that families budget.

I was looking through my paid membership today at some of the latest foreclosures and couldn’t help but notice the number of high end properties and houses in nice locations that are on the foreclosure or preforeclosure list. For example the following was listed:

• 1 bedroom condo in Santa Barbara, California for $100K that was near the beautiful coastline.
• 3 bedroom house in Del Ray Oaks near the Pebble Beach coastline for $408K.
• 2 and 3 bedroom modern houses in Santa Maria on the coastline that were $176K and $300K.
• Properties listed in Hawaii with foreclosure pricing as low as $59K.  

These are some examples of perhaps the only good thing resulting from the real estate bust, that being cheaper housing for investors and first time buyers with available credit .

When you are looking at a preforeclosed or foreclosed home, bring with you a competent realtor who is familiar with the local scene. This will allow you to more accurately assess the property value and help make the purchasing process more efficient. Their familiarity with the situation may serve as your leading guide when deciding on such an investment.

You should as well investigate for any outstanding debts in case the property possesses liens against it. Having said that though, liens are usually negotiated with the lien holder, and can be greatly reduced. If you are in the market for a new property you would be doing yourself a disservice if you missed out on the best values resulting from the current crisis. I can tell you that the examples listed here are only a micro taste of the foreclosure values that can be found in every state.