Be prepared to have money to repair. After viewing many homes in foreclosure, I have learned that once the bank foreclosed on a home, the people that formerly owned the home took EVERYTHING WITH THEM.
You will need to replace appliances, carpet and paint almost every one. Some people took the new kitchen cabinets and left the old ones. One home took the bath tub and then walled in where it used to be. Some even removed the new sod in the back yard. You need to either bring enough money to the table to do repairs and replace items or add extra to your loan to cover the addiional cost.
Buying a foreclosure in San Diego County is the best decision you can make. We are just down temporarily. These homes could double in price when the market goes back up. We don't have a crystal ball to tell us when that could happen but it will happen again.
San Deigo County is the best place to live in the country. We have year around great weather, we have great family places to go. We have the Coaster, Amtrack and the Sprinter trains to get around on. We have the ocean, bay and mountains all within an hour of anywhere in the county. There is plenty to do and plenty to see and play.
Buy a foreclosed property now, fix it up and hold on as you will see great appreciation in the future.
I love San Diego County and you will find that you made the best decision to buy in our area. Just be prepared to buy now, come in with cash or have your loan already pre-approved, not pre-qualified. You have to act fast and not wait around. If you see the one you like then grab it today. Escrow can take as long as 120 days and you need to be prepared for the banks to take up to 30 days just to accept your offer as they are working hard and the pile isn't getting any lower.
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