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The following is a guest post by editors at SmallBusinessLoansDirect.com. Enjoy!
Debunking A Myth
How To Find Foreclosures
How about you all? Have you ever bought a foreclosed property? If so, would you recommend it to others? What were the positives and negatives?
Share your experiences by commenting below!
Jacob’s Thoughts – Listed below are my random thoughts as I was reading this article.
- @ 3.8 million foreclosures in 2010 – This is astounding! How many homes can there be in the US after all, considering that there is about 300 million people living here? That’s like 1-2 people out of 100 affected! Do you know anyone that had to foreclose on their home?
- @ Idea of the housing market still being under pressure in 2011 – I absolutely believe this. In my condo community, none of the units on my row have sold in the past year that I have lived here. Simply amazing! Let’s hope the market turns back around by the time I have to sell in around 2015 or so.
- @ The stereotype that all foreclosed properties are trashed – I encountered this when I was searching for a house as well. What would happen is that I would find a property listed on the MLS system, and when I reviewed it with my real estate agent, she basically, immediately advised me to avoid the property. I wonder why this is? Maybe they have had some bad experiences with clients being unhappy with the results of buying a foreclosure and just want to “play it safe?” Any ideas?
***Photo courtesy of http://farm4.static.flickr.com/3235/2539334956_87cef7e457.jpg