Preforeclosure Real Estate

This one is for the real estate investors, I am including an article on buying foreclosures and preforeclosures. With the press telling us everyday that the real estate bubble has burst, and that interest rates are going up, people are panicking!!

If you are looking to invest in real estate for the long-term, there are going to be plenty of deals out there. This article touches on those opportunities. If you really want proof, click the foreclosure links on the right side of this page, both sites have free trials. Look at the preforeclosure and foreclosure listings, there is a lot of information there. If you are looking for property, get excited because the time to buy is coming...here is the article:

They say that one man’s misfortune is another man’s fortune. Few people really like to take advantage of someone else’s tough times, but in the present housing market it is nearly foolish not to. What am I talking about? The surging number of home foreclosures! Yes, many homeowners have come to the rude awakening that their dream home is nothing but a nightmare for them. Rising mortgage interest rates, sharply higher property taxes, and job loss have contributed to the increase in home foreclosures. Your getting involved may actually help someone out; read on and we’ll take a look at why you just may want to take the bite.
There is no other way to say it but this: no matter what, some people will foreclose on their homes. However, better than foreclosing is a sale prior to foreclosure which helps everyone out:

1. The seller wins because he avoids ruining his credit standing. A foreclosure may be treated like a bankruptcy, disrupting the homeowner’s credit for years. By escaping home ownership which has now become bondage, this type of owner could regroup and buy a home once again sooner rather than later.

2. The mortgage company is pleased with a home sale prior to foreclosure because they avoid costly court costs and having to maintain than later dispose of property that they do not want to own.

3. They buyer – that is you – can win out by getting a home that costs less than market value. You could both make the necessary repairs or updates and keep the home or you could turn around and sell the home for a handsome profit.

Yes, in some situations a sale prior to foreclosure is a true win-win-win situation for all three parties involved. Not always, as sometimes the seller is the big one to lose or the mortgage company may end up settling for your low deal at a loss to them. Never should such a deal work against you, so take care to make certain that there is value in the foreclosure.
Experts are saying that foreclosures will only be increasing in the months ahead. If you find yourself able to swing a deal you could end up making tens of thousands of dollars off a foreclosed piece of property. So, keep your eye on your neighborhood housing market for distressed sellers; you just may be the “white knight” that everyone is hoping will come along!
Jeff Lakie is a freelance finance writer, His website The Foreclosure List Guide is a great place to find out more about free government foreclosure listings. Visit his site today and find out more.

A side note...if you are a First-Time home buyer...you should also be very excited. Yes interest rates are climbing, but as sellers become more panicked, prices are going to fall...there will be plenty of bargains out there. Remember don't be afraid to make a ridiculous offer when the market is "slow", you'll be glad you did when they accept without even countering!!