Scared of Buying a Short Sale or Foreclosure Property?

Depending on your perspective, buying a foreclosure or a short sale property may seem like either the best or the worst idea in the world. Today I will discuss a few benefits to buying in this type of market, and in an upcoming post I’ll discuss some of the things you should watch out for when buying a distressed home.

1. When properly researched, a distressed property may yield a significant amount of equity in a very short period of time. These homes have to be sold quickly, so the prices are often far below market value. Since real estate is widely considered an excellent way to invest, having equity in a market in which most people are losing value is a great advantage.

2. Although the term “distressed” often conjures up images of houses in bad areas on the verge of collapse, the reality is that the mortgage crisis has affected borrowers of all kinds. It’s not impossible to find a short sale or foreclosure in a desirable area that needs minimal repairs. This allows new or move-up buyers to purchase in areas that might otherwise be cost-prohibitive.

3. The government, various financial institutions, and savvy Realtors are working together to streamline the distressed property sale process. Although it’s by no means perfect, it’s starting to become easier to process these transactions in a shorter amount of time.

For more information, please feel free to visit my real estate website at www.baltimoreagent.net

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About venesueca

Have you always wondered if you should buy that product you saw on TV, visit a restaurant or city you’ve heard about, or hire a particular vendor to help you with a project? Maybe you want fresh ideas to inspire your daily life or to make the daily grind a bit easier. At venesueca.com, you’ll find the answers to many of those questions! I love to travel, see new places, try new things, and meet new people… along the way, I enjoy writing about my experiences so that others can benefit from my reviews. During my inaugural week, I will be focusing on local vendors that I’ve worked with extensively and who have a lot of talent, expertise, and value to offer their clients. In the following weeks I will be posting on travel, products, and more. Stay tuned!
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