Foreclosures becoming more and more or my business Texas Real Estate

Real Estate Agent with Centruy 21 Hudson Realtors

I have seen more and more foreclosures come on to the market in the last six months or so. I have also been approached by banks to do BPO's for properties about to foreclose and am now putting those listing into MLS. I get a lot of buyers that think that any foreclosure is a bargain. Sometimes buyers don't realize up front just how much money and time it will take to get a house in the shape it will need to be in to be livable for them or to be used as an investment property. It is the Realtors job to walk them through this process and point out what value the property really holds. When purchasing a foreclosed property your best bet is still a real estate agent. Buyers need to be honest and upfront about their plans. Realtors specialize in knowing about the market and the homes in their market area. Many people would be surprised that their local Realtor may know of several properties that are about to go on the market as foreclosures. A good agent will guide you carefully though the process of making your bid on a property. Foreclosed properties may come on the market through HUD, VA, Freddie MAC or banks. This is definitely a "buyers market" and there are many good deals out there to be found, just don't rule out the listing that is in perfect shape and has already reduced their price a few times. You may find as good a deal and evern better of a deal than that foreclosed property.

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