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The Quality of the Neighborhood is an Important consideration when Purchasing a Foreclosure Home
from:When you are prospecting for a foreclosure, home the neighborhood should be taken into consideration. We all want to have a great home, but the neighborhood also plays a big part in the value of the foreclosure home purchase.
Investigate the area:
• What is the surrounding property like? Is it well kept or rundown? Is it a residential area exclusive to homeowners or is there a mixture of homes and rental units sandwiched together?
• Is the community stagnant, deteriorating, or being built up?
• Is there commercial property in the area? Are their retail stores and grocery chains either already in the neighborhood are considering coming into it?
• Will you have easy access to retail outlets without having to use your car each time you need a loaf of bread or and gallon of milk?
• Do you have access to buses and taxis, trains, subways or other public transportation?
• How many for sale and for rent signs are visible? From a foreclosure home purchase standpoint, it is always a more lucrative investment if there are more homeowners than renters or tenants in the immediate area. Property values are higher in an area that caters to homeowners.
• Not only is it important to consider the condition and age of the foreclosure home you are considering, it is also important to look at the age and maintenance level of all the homes in the area.
• Similarly, consider the age and quality of the cars in the area as well as the city maintenance of the roads and streets. Are there quiet residential streets or busy thoroughfares?
• Are the sidewalks clean and litter free, is there a good quality trash collection system, are the public parks well maintained?
• Are there community centers, schools, training centers, career opportunities in the area or close to the area in which you would like to buy foreclosure home?
• How good are the schools rated in the area?
• Consider the noise factor if you will purchase a foreclosure home in the vicinity of a industrial park, opposite an elementary or high school, or within the downtown core where there is traffic congestion, night clubs and various other night life activity.
• What is the level of security in the area? Are there hospitals, clinics, fire stations, and police stations? Is there a neighborhood watch?
• What is the crime rate in the area?
As you can see from the details provided above that purchasing a foreclosure home is more than merely living in a home, it is a community investment. For more tips on community living click on the site U.S. Department of Housing and Urban Development
Foreclosure Bank Foreclosures News
County official sees value in 'land bank' of foreclosed properties - Chicago Sun-Times
County official sees value in 'land bank' of foreclosed properties Chicago Sun-Times BY DAVID ROEDER droeder@suntimes.com May 22, 2012 8:30PM Land banks, agencies set up to acquire vacant and foreclosed homes and make them community assets once again, work in Michigan, Ohio and New York and the idea should get a tryout here, ... |
Monique Acosta, California Foreclosure Victim, Found Guilty Of Vandalizing Home - Huffington Post
 Press-Enterprise | Monique Acosta, California Foreclosure Victim, Found Guilty Of Vandalizing Home Huffington Post A jury in Riverside, California found Monique Acosta of French Valley guilty of removing fixtures from a mortgaged property after she and her husband allegedly vandalized their foreclosed home by staining floors with dye, defacing cabinets, ... FRENCH VALLEY: Ex-officer guilty of trashing foreclosed home WINCHESTER: Husband convicted of defrauding bank Ex-SDPD Officer Convicted Of Damaging Foreclosed Home |
Many eligible borrowers passing up foreclosure reviews - USA TODAY
 USA TODAY | Many eligible borrowers passing up foreclosure reviews USA TODAY By Jae C. Hong, AP file A bank-owned home in Las Vegas in 2008. By April 30, fewer than 165000 people had applied to have their foreclosures checked for mistakes — about 4% of the 4.1 million who received letters about the free reviews late last year, ... Borrowers passing up foreclosure reviews |
Banks Dodge Expected Wave of Foreclosures - Investorplace.com
 RealtyBizNews | Banks Dodge Expected Wave of Foreclosures Investorplace.com Of more concern is the flood of inventory in the form of foreclosed homes that was supposed to hit the market, further depressing house prices — a flood that has so far failed to materialize. Foreclosure were supposed to surge when the greatest legal ... TUESDAY'S CUP: Foreclosure pipeline steady The Zacks Analyst Blog Highlights: Facebook, JPMorgan Chase, Bank of America ... There's No Time Like The Present! |
Foreclosures tick up in the Buckeye state - WTAM.com
 Business Insider | Foreclosures tick up in the Buckeye state WTAM.com He blames a delay in foreclosures while banks dealt with legal issues over robo-signings and other questionable practices. Now those foreclosures are moving forward again. "There was 15 straight months where foreclosure activity was down on a year over ... Large Cities Ruined By Foreclosures 10 States Where You Can Get Amazing Deals On Foreclosed Homes |
House Prices Not at Bottom in Regional Markets, Regulator Says - Bloomberg
 eCreditDaily.com | House Prices Not at Bottom in Regional Markets, Regulator Says Bloomberg The regulator of US national banks, along with other federal agencies, settled with 14 of the largest mortgage servicers a year ago, requiring the firms to clean up foreclosure practices. The servicers also had to hire independent consultants to see ... Foreclosure Review Effort Draws Only 4% of 4M Borrowers OCC Foreclosure Review Mailing Gets 4% Response |
Exclusive: Housing chief leaves Morgan to launch buy-to-rent fund - Chicago Tribune
Exclusive: Housing chief leaves Morgan to launch buy-to-rent fund Chicago Tribune (Reuters) - Oliver Chang, head of US housing strategy at Morgan Stanley, who has written more about foreclosed homes as an investment opportunity than any other Wall Street analyst, is leaving his firm to start his own buy-to-rent housing fund. |
Dozens of Dogs Found Abandoned in Foreclosed KCK home - fox4kc.com
 KSHB | Dozens of Dogs Found Abandoned in Foreclosed KCK home fox4kc.com More than 30 dogs abandoned in a foreclosed Kansas City, Kansas home. It might look nice on the outside, but the conditions on the inside you have to see to believe. Called to the house on Saturday, Unleashed Pet Rescue and Adoption expected to find a ... KCTV 532 dogs, puppies rescued from hoarder's foreclosed home More than 30 dogs abandoned in foreclosed home, rescue group will spend up to ... |