Purchasing Real Estate foreclosures (PREf)
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Buying Real Estate Foreclosures

5/16/2010

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When looking for a home for you and your family you will probably come across all kinds of deals, bargains, and so-called great values along the way. If price is a very tangible object for you and your real estate investment then you might seriously want to consider the value of foreclosures.

If you are hoping to invest in real estate in order to turn a profit then you may also wish to consider these properties that are often sold well below the ordinary value of the property because they are in varying degrees of disrepair.

Foreclosures are properties that have been taken back by the lenders because the previous owners were unable to continue making payments on the property. Being that these homes were often owned by those in financial distress and may have been empty for some time before being sold, chances are that the foreclosure homes being sold at any given time are in some degree of disrepair.

The shabbiness of many of these properties is one of the factors that keeps the prices down. Another is the fact that the lenders are essentially attempting to recoup their investment in the property. For this reason they are often willing to take less than the value of the property if that is what is owed on the property.

Why are these properties often in a state of disrepair? Truthfully, there are many reasons but the primary culprit in this situation is money. Obviously the owners of the home were struggling to make the payments or the home would not be in the state of foreclosure. If the notes on the property were difficult to begin with, it makes perfect sense that other issues such as leaking roofs, shabby carpeting, or plumbing maintenance would take a distant second in priority to making the house payment.

At the same time, there are those who are bitter about loosing their homes. As sad as the situation may be some add insult to injury by damaging these properties intentionally. These homeowners feel they have nothing left to loose and if they cannot have their property whole then the lenders should not as well. While this is by no means the way to go, there are very many who choose this path over other options.

The fact is that their loss in these situations is actually your gain. The damage they do to the property is often not terribly expensive to repair though it can be quite bothersome. Your willingness to do the work in order to create a beautiful home for you and your family or as an investment can often translate to big savings at the closing table or when negotiating the price of the property. 

Foreclosures can allow families to buy larger homes in better neighborhoods than they would ordinarily be able to afford. They can also provide a fabulous kick-start to a property investment portfolio. Despite common claims and Internet advertisements, you do not need to buy a list in order to find foreclosed real estate in your area. You simply need to procure the services of a competent real estate agent and let him or her know that your intentions are to purchase a foreclosed property or some other property that is selling well below market value.

You might be amazed at the wealth of information and assistance your real estate agent can provide; not only in finding excellent foreclosures but also when it comes to procuring financing for some of the more creatively damaged foreclosures you may run across at insane bargain prices.
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     Ann Sieg and Ty Tribble's Blogging For Prospects

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    Hello I'm Tony, known also as Javeton among family, friends and a number of Web networks that I have a membership in.

    My residence is in the central New Jersey city of Woodbridge and my professional background is in real estate and mortgage broker/banker services, the last nineteen years having been spent in mortgage lending with three New York-based mortgage bankers.

    Over the past thirty months I have managed to combine my offline and online experiences and efforts in order to create TPJaveton & Associates, a Web-based entity specializing in "Affiliate Marketing". TPJaveton, in carrying out its affiliate marketing duties, is actively engaged in the promotion of products and services offered for sale by certain recognized and highly respected Web merchants and affiliate networks.

    As founder of TPJaveton & Associates and TPJaveton Enterprises ("TPJaveton"), my objectives are to manage the affairs of these Web entities by ensuring that the content provided on our thirteen websites is relevant, useful, qualitative and socially acceptable to readers and supporters; whether the topic(s) be related to real estate and/or mortgages, affiliate marketing or any of the other topics covered on our blogs and websites.

    Information is provided freely and in an effort to reach those who may benefit most by utilizing it. In addition, TPJavetonSelect newsletter which was published on June 11, 2010 is available free of charge to present and future visitors to our websites. I've made these sites available in one convenient location, reachable by simply clicking the the highlighted "author's profile" towards the end of this paragraph. Your comments and suggestions will be appreciated. Please see
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