Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Ruth asks…

Is the market still ok fore real estates? especially pre-foreclosure homes?

I am new at investing so i need some help to get started. and to make sure if its worth jumping in right now since it has been dying down.

Your Questions About Foreclosures

The Expert answers:

I wouldn’t pay too much attention to NATIONAL media reports on real estate which report a cooling off period recently. Look at your area. Are area businesses doing well? Are they hiring and investing or are they laying off? That will tell you if people are likely to be moving into the area, and therefore, potentially buying a home.

However, when it comes to pre-foreclosure homes, it’s more complex. You really want to focus on the home and specific area where it is located. If you are in an areas where business is doing poor, more pre-foreclosure homes will be available but not many perspective buyers. If business is doing good, well, less pre-foreclosure homes, more competition, but quicker turn-around times.

You have to think this through on a local level, not a national one, especially when it comes to pre-foreclosures. I WOULD NOT buy a pre-foreclosure home in an area where prices have already been driven to record highs. Honestly, I would focus, generally, in less populated areas that did not benefit from past real estate valuation growth. Internet commerce and home/office technologies make these areas ripe for future valuation growth and plenty of pre-foreclosure opportunities exist for investors.

Your Questions About Foreclosures

Susan asks…

Is there any way to look at foreclosure homes in kansas city, kansas for FREE?

I’ve been to many websites, but they’re not free to look at and i’m tired of wasting my time with those. Is there any free website that i can look at?

Your Questions About Foreclosures

The Expert answers:

Hire a real estate buyer’s agent who does not also rep the seller;
let their skills rep you and bring you a good deal…..

The bank pays for them…….

Also, realtor.com

it is interesting you did not list features in your
ideal house………..[r u an old flipper?]

Your Questions About Foreclosures

Carol asks…

Anyone know a realtor in the Santa Barbara area that deals with subject-to financing and pre foreclosure homes?

I’m looking to purchase a house by taking over someones mortgage, but I need a lot of help from someone in the area bc I currently live out of state.

Thanks

Your Questions About Foreclosures

The Expert answers:

Most real estate agents that know about pre foreclosures and have them listed for sale want the buyer to qualify for and get a new mortgage and would not normally recommend to their seller to do the type transaction you are seeking.

One of the reasons is they would be hard pressed to get a commission from a transaction such as this unless they added a 2nd to the property and you paid their commission.

Being out of state does not help either.

In order for your plan to work you would almost have to have a foreclosure list and either knock on doors or send letters indicating what you would like to do.

The real key to your program is to speak with the home owner that is in foreclosure face to face of by telephone.

Then when you do make a deal California law requires a 5 day right of rescission for those sellers that are in foreclosure.

I hope this has been of some use to you, good luck.

‘FIGHT ON”

Your Questions About Foreclosures

Maria asks…

Will the new mortgage bill help families who have already lost their homes to foreclosure?

It says it will help homeowners who currently are in peril of losing their homes, but what about those who have already lost their homes this year? Will this bill help them to obtain a loan to buy another home? Or are they just out of luck due to timing?
Oh, but let’s go all out to help Fannie Mae and Freddie Mac, right? What a joke…

Your Questions About Foreclosures

The Expert answers:

Why should the taxpayers subsidize buyers and lenders who made very bad financial choices ?

Your Questions About Foreclosures

Sharon asks…

Foreclosure homes in bay area, central area or anywhere ?

Is it possible to buy foreclosure home for $20k to $25k anywhere is bay area or Central area even if it’s a fixer upper.

Your Questions About Foreclosures

The Expert answers:

No. The central valley has had some around 50k though. They sell fast (1-2 days) and for all cash. None cash offers are not even accepted.

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Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures

Your Questions About Foreclosures

Your Questions About Foreclosures