RealtyTrac Reports US Foreclosures Up 97% In December 2007 – How You Can Invest In The Foreclosures Market
Realty Trac has also reported that a total of 215,749 foreclosures were filed during December, 2007, which is up a whopping 97 percent from December, 2006. The total escalates the fourth quarter foreclosures filing up to 642,150.
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RealtyTrac Invites You To Invest In Foreclosure Properties
“If you are willing to do your homework, investing in the foreclosure market can offer one of the best opportunities in real estate today”, this according to RealtyTrac, the leading foreclosure listing marketplace available online.
RealtyTrac’s online services can assist investors as well as potential home buyers to look into this hidden market by providing instant ‘real-time’ access to current foreclosure listings, as well as pre-foreclosure listings. This information in the past was available only to real estate brokers or professional investors. Using Realty Trac’s sources, new homebuyers or investors can use their online services to research and identify potential home purchases. You will also find professional tools and resources that you need to find and close the deal on the property.
It is vitally important to educate yourself about the different types and stages of property foreclosures and the process involved. The seasoned real estate investors in foreclosure will advise that even they have something new to learn when it comes to this market.
The Types of Foreclosure Properties Available And The Stages Of The Foreclosure Process
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For most investors or home buyers, buying a pre-foreclosure home directly from a private homeowner offers the best option. This is a best-case scenario for all parties involved because:
There are however some disadvantages purchasing a property during the pre-foreclosure stage. As this is a major purchase…
2.) Auction Sales
Buying from foreclosure auctions can often offer significant savings and provide immediate property ownership. This process is however not for the faint of heart or if you are unprepared. You as the buyer should be familiar with the property you are bidding on and most often, there is a limited ‘time frame’ to examine it. Also, you as the bidder, will be competing against other professional investors as well as possibly the lender of the home.
3.) Real-Estate-Owned Properties (REO)
It is possible to find great deals investing in the foreclosures market. You are however required know where to look and know exactly what you are looking for.