We’ve all heard about the state of real estate in these trouble economic times. Foreclosures are everywhere. Yesterday I read that now lots of people who can afford to pay their mortgages are walking away from them — allowing the banks to foreclose — because the values have gone down and they’d rather take the short-term credit hit than pay back the back money they can’t recover in a sale.
The dishonesty on the part of borrowers is staggering. The accelerated foreclosures hurt the property value of everyone in the neighborhood. And, as I said before, when you choose not to pay what you promised, other real people do.
On the bright side of the foreclosure debacle, is the opportunity for those looking for a home. When you buy a previously foreclosed property, you have the opportunity to get a great home at a bargain price.
There are many places to look for such homes. You can find government homes for sale online. There are also extensive listings of foreclosed homes gathered by companies that serve this particular market. You can find easy-to-navigate, user-friendly sites that cater to the foreclosure market. Some sites are specific to a particular geography.
If you’re looking for your dream home, there are many ways to find it. The home foreclosure market is extensive right now, and may give you the opportunity to get your home sooner rather than later.