Forclosure Homes

Who wants to rob a bank legally?

No masks necessary - investors are buying forclosure homes in broad daylight.

Banks have so much inventory and are eager to move it that those willing to act can really get a great deal now. First time home-buyers and experienced investors can profit right now from bank mistakes.

Recently I have seen a bank sell a property for half - HALF - of what they just lent on the property 11 months ago.

And in just the past week in South Florida (where the market is as grim as anywhere) a property was purchased so cheaply from a bank that it was resold for profit twice within 2 weeks.

There are many excellent reasons to purchase a forclosure home right now, and they are available in any area and price range…consider the recent article in the International Herald Tribune discussing how even in storied “Wine Country” forclosure homes can be found:

“In the nine county San Francisco Bay area, where home sales tumbled in January to their lowest levels in 20 years, Napa County suffered the sharpest drop of all — more than 55 percent from a year earlier, according to Dataquick Information Systems, a real estate research firm. In the same period, houses at any stage of foreclosure jumped by 152.9 percent.”

Entire Article - Even in storied Napa wine country, foreclosure crisis hits home

The good news is, anyone can really buy a forclosure home now and profit…they just have to be ready to work and learn. The sellers won’t give them any resistance.

Craig Garcia is a Mortgage Lender and Real Estate Investor for over 10 years. He helps investors buy forclosure homes with little or no money out of pocket by working with Private Lenders. Click here to find Foreclosure Homes in your area - Free Search 1000’s of Bargain Homes! For more information on finanacing forclosure homes - Use Private Lenders.

Forclosure Homes Outpacing Sales In Some Parts Of Country

I knew the level of forclosure homes was still increasing, but according to the New York Times forclosure homes even outpaced sales in some areas.

Here is what the New York Times had to say about it:

“During January, it was reported this week by RealtyTrac, there were 153,745 initial foreclosure notices sent out in the United States. That dwarfed the 43,000 total sales of newly built single-family homes and amounted to nearly half the total sales figure, which includes sales of existing homes and condominiums.”

While this number of forclosure homes is giving sellers a major headache right now, there are bunches of investors everywhere trying to buy these properties from the banks. The banks are taking major loses just to get rid of houses they do not want to keep.

You can read the entire article here:

NY Times Article

Craig Garcia is a Mortgage Lender and Real Estate Investor for over 10 years. He helps investors buy forclosure homes with little or no money out of pocket by working with Private Lenders.  Click here to find Foreclosure Homes in your area - Free Search 1000’s of Bargain Homes! For more information on finanacing forclosure homes - Use Private Lenders.