Palm Coast has been hit pretty hard by the sub-prime mess, over exuberant investors that got in over their heads and job layoffs. What does all this mean...mounting foreclosures and bank owned properties. The good news, is that if you are familiar and educated with the the process of purchasing foreclosed homes...you are in luck. If you are not, be very careful before you run to the courthouse steps thinking you are getting the deal of the century.
Knowledge and education are vital to successfully purchasing foreclosed and bank owned homes.
Bank owned and up-coming foreclosures:
Bank Owned Properties
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Bank owned properties are a safer more effective way for first time homeowners or investors to find a great bargain on a home that has already been foreclosed on.
The above is a link to the Flagler County Clerk of Courts. When you access the webpage, click on the link "Public Sales" for more information. Here you will find information on up-coming foreclosures and specific dates. I am providing this link for information purposes only and can not guarantee the accuracy of the information. I am not able to assist with the purchase of foreclosure properties sold on the courthouse steps and suggest anyone considering purchasing a property this way, contact an attorney prior to making any decisions.
Why Do Sellers Go Into Foreclosure?
Owner's of homes go into foreclosure for many different reasons. It can be a very long, tedious and emotional process. Few choose to go into foreclosure voluntarily. It's often an unpredictable result from one of the following:
- Laid-off, fired or quit job
- Inability to continue working due to medical conditions
- Excessive debt and mounting bill obligations
- Squabbles with co-owner, divorce
- Job transfer to another state
- Misunderstood loan obligations
- Unplanned for rising taxes and insurance costs
- Adjusting exotic mortgages/ARMS
For more information about real estate in Palm Coast/Flagler County, please contact Kristi Ross @ 386-931-5822.
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