Foreclosed and foreclosing properties dominate many of today’s U.S. real estate markets. A recent survey of distressed property purchases revealed important information about the locations of the best opportunities, how they can be negotiated, and how smart capable buyers are leveraging the current market.
First-time home buyers make up almost half of all buyers of bank-owned foreclosures and soon-to-be foreclosed short sale properties. They’re followed closely by investors seeking rental properties, and a third important group—homeowners who find they can move up to a bigger or better home they previously could not afford.
To help more consumers win as buyers, I am offering a workshop on “Winning with Foreclosures,” that shows buyers how to equip themselves to be successful at buying “distressed” properties. According to the survey, these homes can be purchased at a 10 percent to 40 percent price advantage, depending on the local market.