Many of the homes available for sale today - as many as half in some markets - fall under the category of "distressed properties" (foreclosures or short sales).
Foreclosures are homes that banks have taken back from the previous owners when they couldn't pay their home’s mortgage. After the bank takes the home back through the foreclosure process, it will normally change the locks and remove any debris left behind by the previous owner. Sometimes they will do some general repairs, but a majority of these homes need some TLC.
Foreclosures have different dynamics than traditional sales - more paperwork, often a longer transaction process and, in some cases, more frustration - causing many buyers to shy away from them. But this, in turn, makes the demand for these homes drop ... depressing their prices and often providing some great bargains.
How do you find these foreclosures? It's as easy as clicking on any of the following links:
Hemet Foreclosures For Sale
Moreno Valley Foreclosures For Sale
Perris Foreclosures For Sale
Riverside Foreclosures For Sale
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