In years past, you may not have even noticed real estate for sale signs on the road, now you can't miss them. What isn't different is you will rarely be able to tell the difference between a common real estate listing, and a government foreclosure for sale. The biggest difference is the number of government foreclosure homes for sale, and how we find them. Thanks to the evolution of the internet, and of www.hudforeclosed.com in particular, the world of HUD foreclosures, government foreclosures, and bank foreclosures is open for public view, and people are finding great deals on foreclosed homes for sale.
Great Deals on Government Foreclosures
The market fluctuates from one area to the next, but no matter where you find government foreclosures, the chances are good that you will be able to buy it for between 27% and 50% less than the local market prices. That translates into fantastic savings and great deals in a time when the economy is tight and dollars don't stretch as far as they used to. Further deals can also be found if the bank is willing to deal to get a bad loan, or non-performing assets, off their books. In those cases the banks may waive some, or even all of the normal fees associated with closing on a home.
Government Foreclosures are not Bad Homes
The general public has long had a poor view of government foreclosure sales, but homes sold in foreclosures are not necessarily bad homes, or in complete disrepair. You should always do your homework and know what you are walking in to when buying a government foreclosure. If you are handy, and can handle some repairs, or can afford to pay for them, the deep discounts on government foreclosure homes that are in disrepair are a real steal.
If you can't swing a hammer without hitting yourself, make sure the home is in good condition. There are still great foreclosed homes for sale that ended up that way because of illness, death, divorce, or the recent epidemic of income loss. In many of those cases, the homeowners had kept the homes beautifully, and just couldn't continue to pay the mortgage.
Check the background of the government foreclosure home you are interested in. If the title is clean, and it is in good condition you're in a good place to start the process of buying a great home. When you're looking for great real estate deals, look for government foreclosures, and other foreclosure listings, you could end up in your dream house for a fraction of its real value.