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How To Buy A Foreclosure Article
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The Quality of the Neighborhood is an Important consideration when Purchasing a Foreclosure Home
from:When you are prospecting for a foreclosure, home the neighborhood should be taken into consideration. We all want to have a great home, but the neighborhood also plays a big part in the value of the foreclosure home purchase.
Investigate the area:
• What is the surrounding property like? Is it well kept or rundown? Is it a residential area exclusive to homeowners or is there a mixture of homes and rental units sandwiched together?
• Is the community stagnant, deteriorating, or being built up?
• Is there commercial property in the area? Are their retail stores and grocery chains either already in the neighborhood are considering coming into it?
• Will you have easy access to retail outlets without having to use your car each time you need a loaf of bread or and gallon of milk?
• Do you have access to buses and taxis, trains, subways or other public transportation?
• How many for sale and for rent signs are visible? From a foreclosure home purchase standpoint, it is always a more lucrative investment if there are more homeowners than renters or tenants in the immediate area. Property values are higher in an area that caters to homeowners.
• Not only is it important to consider the condition and age of the foreclosure home you are considering, it is also important to look at the age and maintenance level of all the homes in the area.
• Similarly, consider the age and quality of the cars in the area as well as the city maintenance of the roads and streets. Are there quiet residential streets or busy thoroughfares?
• Are the sidewalks clean and litter free, is there a good quality trash collection system, are the public parks well maintained?
• Are there community centers, schools, training centers, career opportunities in the area or close to the area in which you would like to buy foreclosure home?
• How good are the schools rated in the area?
• Consider the noise factor if you will purchase a foreclosure home in the vicinity of a industrial park, opposite an elementary or high school, or within the downtown core where there is traffic congestion, night clubs and various other night life activity.
• What is the level of security in the area? Are there hospitals, clinics, fire stations, and police stations? Is there a neighborhood watch?
• What is the crime rate in the area?
As you can see from the details provided above that purchasing a foreclosure home is more than merely living in a home, it is a community investment. For more tips on community living click on the site U.S. Department of Housing and Urban Development
How To Buy A Foreclosure News
Exclusive: Housing chief leaves Morgan to launch buy-to-rent fund - Chicago Tribune
Exclusive: Housing chief leaves Morgan to launch buy-to-rent fund Chicago Tribune (Reuters) - Oliver Chang, head of US housing strategy at Morgan Stanley, who has written more about foreclosed homes as an investment opportunity than any other Wall Street analyst, is leaving his firm to start his own buy-to-rent housing fund. |
GreenPath Debt Solutions Takes Part In Government Housing Counseling Study - Sacramento Bee
GreenPath Debt Solutions Takes Part In Government Housing Counseling Study Sacramento Bee HUD concluded that the findings suggest that pre-purchase counseling helps clients make good decisions regarding homeownership, and might help to make homeownership more sustainable. Foreclosure prevention counseling HUD's foreclosure counseling study ... |
Want to Buy a Foreclosure? Here's What You Need to Know - TIME
 TIME | Want to Buy a Foreclosure? Here's What You Need to Know TIME If you're planning to buy a foreclosed home, though, there are some things you need to know before taking the plunge. Forget Auctions First of all, if you're new to the foreclosure market, don't even think about buying a property at a foreclosure ... Foreclosure Activity Falls to Lowest Since Summer of 2007 |
Malloy Announces Plans for CT's Share of Foreclosure Settlement - Patch.com
Malloy Announces Plans for CT's Share of Foreclosure Settlement Patch.com By Chandra Johnson Greene Before you buy a foreclosed home, be sure you know how. Debbie Ferrari/Real Estate Broker Gov. Dannel Malloy and Attorney General George Jepsen announced on Monday that the $190 million Connecticut received as a part of a $25 ... |
Great Falls Housing Market Keeping With National Trend - KFBB NewsChannel 5
 WRAL.com | Great Falls Housing Market Keeping With National Trend KFBB NewsChannel 5 "The interest rates (for mortgages) are so low it makes sense to buy now. Foreclosure rate is actually down, most recent data that I saw showed about a 5% foreclosure rate in Great Falls." This trend of higher prices and home sales is expected to ... US sales of houses increase Home sales showing signs of life as first-time buyers enter the market Sales Of Previously Owned Homes Rose In April, Boosted By First-Time Homebuyers |