Foreclosures

There is no question that foreclosures are driving our markets these days.  Of my last 16 transactions, 12 of them have been on foreclosed homes.  The opportunity to gain equity quickly or to walk into instant equity is enormous.  Fannie Mae Foreclosures

Don't Be Afraid

When searching for a home, folks can find them in all states of condition from run down to almost perfect and this is not limited to just foreclosed homes.  When a home is "less than perfect", I see folks walk away from what could be a great deal because there is some "work" that needs to be done.  Bank of America Foreclosures

Be Aware

Homes that are in need of "cosmetic" repairs, which a majority of them are, folks can put in the elbow greese and make the home theirs.  When a home is in need of some "repairs/updates" that would prevent the home from being insurable, lenders won't finance.  Government Foreclosures

FHA 203K Saves The Day

Buyers using a Federal Housing Administration guaranteed loan can take advantage of the FHA 203K program.  Folks can negotiate a great price for the property and by way of a 203K Rehab loan borrow the money to purchase the property and make the necessary repairs/updates and only pay 3.5% of the total project as a down payment.  NH Home Search

About The Author: Marty Patrizi is a Realtor with Virtual Homes, Inc. making home ownership a reality.  Marty can be reached at 603-781-4099 or by email marty.patrizi@virtualhomes.com.

 

 

 

 
This post has been included in New Hampshire Real Estate News

1 Comments on Foreclosures: Don't Be Afraid, Be Aware

FEB
14
2011
537,718 Points 6 Featured Posts Outside Blog Called Shot Master

Good Morning Marty, good input for the home buyer to consider.
6:22am • #1


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Marty Patrizi

Strafford, NH

More about me…

The Bean Group

Address: 10 Barberry Lane, Strafford, NH, 03884

Office Phone: (603) 766-1980 x 7079

Cell Phone: (603) 781-4099

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