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from: Home Foreclosure Listings EvaluationEvery now and then a disgruntled homeowner that is facing foreclosure will trash the house, so that whoever buys it will have to put a lot of money into it. At the time, it might feel good to the homeowner to take out his/her frustrations out on the house, but in the end the bank will either file a claim with the homeowner’s insurance carrier, or sue for the loss caused by the vandalism. The house will go into the home foreclosure listings, and the use-to-be homeowner will have to deal with the damage done to the property. For this reason, a buyer should always inspect the properties on the home foreclosure listings before making plans to buy them.
If you are interested in a home found on the home foreclosure listings, go visit the property. Take a pen, notebook, and camera to the property and take notes and photos of the property. This method will help you keep track of all the properties you inspect. Take note of any evidence of vandalism, as well as the over all condition of the home and the land it is sitting on.
It is quite possible to save as much as 30 percent by buying homes from home foreclosure listings; however, it is essential that you know that you are truly getting a bargain. Saving $20,000 on a home wouldn’t be worth it if you have to sink $50,000 back into it for repairs and renovations. Home foreclosure listings are very helpful in locating homes, but they don’t tell you if the homes have been vandalized by the owner. There may be holes punched into the walls, broken windows, and missing light fixtures when you go to the property to inspect it. The cost of this damage will be passed on to the person that eventually buys the house, so a rule of them is to never buy a foreclosure property sight unseen.
Home foreclosure listings are available at any bank’s REO (real estate owned) department. You can also go online and find home foreclosure listings on the Internet. Type the words home foreclosure listings into your search engine and you will find page after page of websites that advertise them. The Yahoo search engine will take you to the Yahoo real estate website; it lists the homes, and the street they are located on, the number of bedrooms, bathrooms, square footage, and the real estate company that is handling that property.
Locating the homes is made easy when you have the Internet at your disposal; it may take some time to purchase a home in foreclosure, if the bank hasn’t taken possession of the property. You may be dealing with just the bank, or you may also be dealing with the seller of the property if the bank has not already taken possession of it. By being patient, and making visual inspections of the property on the home foreclosure listings, you may be able to save yourself a significant amount of money, compared to buying a home on the open real estate market.
Foreclosure Home Sales News
Foreclosures, House Sales Up in April - LoanSafe
Foreclosures, House Sales Up in April LoanSafe (Source: Ed Waters Jr. The Frederick News-Post, Md. — Foreclosures were up in Frederick County from March to April, but so were home sales. RealtyTrac, a national distressed property data firm, said there were 73 foreclosures in the county in April. |
Some foreclosed homes going for dirt-cheap prices - Statesman Journal
Some foreclosed homes going for dirt-cheap prices Statesman Journal He recently paid $12000 for a 1600-square-foot suburban home assessed at nearly $90000, a house in a quiet neighborhood of neatly kept ranch homes. "I'm amazed at how low some foreclosed properties are going," said Al Rosen, who monitors distressed ... |
Sales of previously owned homes rise 3.4% in April - Philadelphia Inquirer
 Boston Globe | Sales of previously owned homes rise 3.4% in April Philadelphia Inquirer By Alan J. Heavens A sold sign in Riverview, Fla. Economist Lawrence Yun agreed that "a diminishing share of foreclosed-property sales is helping home values." CHRIS OMEARA / Associated Press Sales of previously owned homes rose 3.4 percent in April ... Real-estate market improving Home sales up throughout US US home sales up across the country, hopeful sign |
Home Sales Jump as Number of Foreclosures Drops - TIME
 TIME | Home Sales Jump as Number of Foreclosures Drops TIME Spring is traditionally a busy season for home sales, but the real estate market has been in such a slump for the past couple of years that “ordinary” good news comes as something of a surprise. In the case of today's data, existing home sales ... Rise in Home Sales Points to Rebound Existing-home sales and home prices ticked up in April Housing recovery underway as home prices, sales show strong gains |
Sales of previously owned homes rise 3.4% in April - Philadelphia Inquirer
Sales of previously owned homes rise 3.4% in April Philadelphia Inquirer By Alan J. Heavens A sold sign in Riverview, Fla. Economist Lawrence Yun agreed that "a diminishing share of foreclosed-property sales is helping home values." CHRIS OMEARA / Associated Press Sales of previously owned homes rose 3.4 percent in April ... |
Distressed home sales drop in April - Fresno Business Journal
Distressed home sales drop in April Fresno Business Journal Foreclosure HomeDistressed home sales dropped in California for the month of April spelling better fortune for the equity housing market. Distressed sales, like short sales or sales of bank-owned foreclosures, dropped to 42 percent of all home sales in ... |
March FNC Residential Price Index up 0.5% - MarketWatch (press release)
March FNC Residential Price Index up 0.5% MarketWatch (press release) Despite modest declines in March home sales, home prices -- based on recorded sales transactions in the nation's 100 largest metropolitan areas -- enjoyed a small increase from February. Declining foreclosure sales as a percentage of total home sales ... |
new-homes sales jump 34.5 percent in April - Las Vegas Review - Journal
new-homes sales jump 34.5 percent in April Las Vegas Review - Journal Builders are seeing more traffic through new-home subdivisions as resale inventory has tightened, a result of Nevada's robo-signing law that has slowed foreclosure activity. For the year to date, new-home closings have increased 20 percent to 1220. |