Most people think that buying a foreclosed home is a good deal. But what is a good deal? If looking at many foreclosures, putting in many offers which many are rejected, no FHA available financing, many repairs required and the lender selling the home as is looks like a good deal then foreclosures are for you.
A lot of my buyers over the last several years start out wanting to look at foreclosures and distressed properties but end up buying a home from a regular seller or a fix and flip investor. I was at a seminar yesterday and was told that in today's market 80% of buyers start out looking at foreclosures but only 8% end up buying a foreclosure. In my option I think that is ultimately due to the fact people are not looking for a lot of headaches they are looking for a HOME.
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Paul Gruber CRS, e-Pro, REALTOR
The Edge Group, Inc.
7138 W Roxbury Ave
Littleton, CO 80128