The purpose of this foreclosure tutorial is to provide an overview of the foreclosure process and to help you get started in achieving your real estate dreams. Whether you are a first time buyer or a seasoned real estate professional, there is tremendous opportunity in learning how to buy foreclosure property and then using your knowledge to purchase undervalued distressed real estate.
The national foreclosure rate has continued to increase over the last several years. New mortgage loans are entering the foreclosure process daily. There are plenty of foreclosed or financially distressed properties available for purchase, typically at prices listed significantly below market median prices. On average, most markets price foreclosures at between 10%-30% below market median prices depending on the condition.
What causes foreclosures? The use of exotic loans, combined with higher consumer debt, changing bankruptcy laws and changes in employment levels all contribute to the foreclosure rate and are all likely to contribute to the continued flow of foreclosures to market. Due to these market conditions, I believe great opportunities still exist today to acquire homes at a discount, establish a preferred home lifestyle and/or make money and build wealth through foreclosures.
Unless you are already an experienced foreclosure investor, I recommend that you take advantage of the information presented in this tutorial. While it will not make you a leading expert on the subject matter, it does provide an easy to understand overview of the foreclosure process and how to purchase these properties.
There are few opportunities today that can be as lucrative and exciting as the hidden housing market of real estate foreclosures. We wish you the best of luck and hope to see you accomplish extraordinary success in your journey into distressed real estate. Remember the harder you work the luckier you will get.
If you would like a list of foreclosure properties or you have already found some homes you would like to go visit, please let me know and I would be more than happy to arrange it for you.
Posted on December 28, 2014 at 2:15 pm by John Cantero (918) 313-0408