Oodle

None. Foreclosed homes are owned by the banks/lenders. These properties costs them money each day they are on their books. Lenders are in business to make money, not lose money. And there is no emotion in their doing business. All foreclosed homes are listed with Realtors at some point deemed necessary by the lender. If you would like to buy a foreclosure, you’ll need to be pre qualified first, then find a Realtor knowledgable and experienced in handling these types of transactions.

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I would like to buy a home for myself.

Contact the local tax collector’s office in the county where you wish to buy.

Be advised that many states don’t auction off the property but the right to collect the past-due taxes plus interest from the current owner. The owner has a period of time, typically 2 or 3 years, to pay you the taxes and the interest. If they don’t pay you off in time then you have to foreclose on the tax deed to take possession.

It’s also a myth that you will pick up nice properties on the cheap this way. Typically you’ll wind up paying something pretty close to market value once the bidding is done.

For months now, the doomsayers have been forecasting a burst in the real estate bubble. The burst has yet to happen. According to data released during the first week of October, the median existing homes for sale price fell in August by 1.7 percent, a first in over ten years of year-to-year pricing. The number of homes for sale has jumped to 3.9 million, which is the highest inventory level since 1993.

The bubble for homes for sale still exists; however, because jobs, income and interest rates are still in great shape. This means that forecasts are still excellent for this year, which is expected to be the third best year in history for home sales.

That does not mean that sales figures are as good as last year at this time, when the bubble made homes for sale pricing unrealistically high. With prices coming down and homes for sale inventories rising, the real estate market is moving toward a buyer’s market but we still are a long way from there at this time.

The current homes for sale market means that buyers can take longer to make buying decisions, which keeps many homes for sale on the market longer. There is more competition for owners of homes for sale, requiring different selling techniques.

The most important thing is to accurately price homes for sale. Too high, and they will remain on the market too long. Sellers must be realistic. Homes for sale owners must begin to look at the “real” price of their home, based on what they actually paid for it and for what price they can sell it. They cannot look at the “paper” equity that was created by the bubble you cannot lose money that was never real! The only money lost is in “theory,” based on what an earlier, unrealistic market said for what you could sell your property. The only “real” money that would be lost would be if you had to sell a home for less than you paid, and the homes for sale market is not at that point and hopefully never will be.

The second most important selling technique for homes for sale is to market it correctly and make it stand out amongst all the other homes for sale. Preparation before putting your home on the market will make a difference. Have it inspected beforehand and repair, renovate and replace any defective items in the interior and exterior of the home, as well as landscaping problems. Stage your home for showing fresh paint, fewer furniture pieces attractively positioned to make rooms appear larger (put your extra pieces in storage), adding small decorative accents of color to pull the viewer’s eye to unique features within the rooms, and so on. Some realtors can assist owners of homes for sale with “buy-down” mortgage products to add more buying appeal to the property without having to lower the sale price.

In this current market, the owners of homes for sale with the edge are those who take the extra time and effort before putting their homes on the market, along with a realistic selling price.

John Harris
http://www.articlesbase.com/real-estate-articles/the-bubble-has-yet-to-burst-on-existing-homes-for-sale-70165.html

For more information call Dolly or Michael Peters on 561-626-7000

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A house within a block of me needing updates and repairs (foreclosure that sat vacant for some time) recently sold about 20,000 below what two other homes in the area are listed for. Because it is in the same subdivision, it is causing my value to drop about 20,000 below appraisal from three years ago. People don’t move frequently from my neighborhood (stable, family neighborhood close to services and highways), and the two in top-notch condition currently on the market haven’t sold yet. The most recent sale is almost a year ago. I’d like to refinance before my ARM goes up, but I can’t get a decent loan to value ratio with the low recent sale.

It is nice to think that your house is worth more than the market is saying. Reality is that very few houses are worth what they were three years ago. You can try to sell it for that and hope that someone is stupid enough to pay that, but even if they were it would appraise for that today and they wouldn’t be able to get a loan for that amount.
The best thing that you can do is to get a new appraisal for your house. You are going to need it anyways, why not do it now. Face it, we are in a buyers market.pp

March 2010 Update on homes for sale on Koro Island, Fiji Islands – as seen on “International House Hunters”. www.fijirealestate.com and www.koroisland.com

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Recently, I’ve seen way that sales number for homes in california almost double compared to a year ago. I saw a blurb that bank foreclosures on a home show up as a home sale in california. I’m thinking this may possible explain the much higher rate of sales and dramatically lower prices. Anyone know if a bank foreclosure would show up as a home sale in california?

The actual foreclosure is not counted as a sale. It only becomes a sale once the lender has successfully sold the property to another owner.

Happy Valley Is for sale! In your wildest dreams, did you ever think you would own Beaver Stadium? How about The Creamery, The Wall, Old Main

is there any truth in these tax estate sales at all? The infomercial on tv looks convincing, but as they say, If it sounds too good to be true, it probably is! Does any one know if this can be done? ANy legitimacy in this at all ? Thanks

If a municipality isn’t paid property taxes they can foreclose on the house to get paid. They have to severely delinquent (usually on the order of 2 years). The amount listed on the tax auction sites (most counties put their auction notices and the properties on line at the county web site – you don’t need infomercial material to do this, that’s just a rip off) is the amount that is owed to the municipality.

You have to read the auction notice and terms very, very carefully. Many times tax auctions do NOT wipe out other liens, meaning if there is a mortgage on the house you’d have to pay that off to get possession of the house. On top of that, many municipalities have rules about a redemption period. This redemption period is a period of time after the auction that the original owner can pay the taxes and ownership reverts back to them. This period can be a year or more in some places. That means you’d have to win the auction, pay the money, evict the previous owner (or get them to pay you rent), clear other liens on the property (including a mortgage?) and then wait for the redemption period to expire before it was truly yours. Sounds like a game that is a little too much for the average investor/part timer.

So the answer is – I’m sure it has happened that someone has bought a property for $300. It’s also true that people win the lottery – just not you. It would be incredibly rare for it to happen. You are right, if it sounds too good to be true, it probably is.

Another way to think about these things is to imagine it in reverse. You own a house (free and clear, let’s say) and you owe $300 in taxes. You’ve owed it for a long, long time. Are you really going to let it go for $300 in taxes? Wouldn’t you sell it first? Wouldn’t getting that $300 to save your house be a top priority? Of course it would be… You wouldn’t let someone else come in and ’steal’ your equity.

good luck!