I would do my homework and find out when and where the auctions where going to take place, I place my bid and I usually come away with another house. I seriously think that new home buyers don't do enough homework before they run out and buy a house the old fashioned way. They need to open their eyes and see the massive potential in government auctions
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Los Angeles, CA (PRWEB) September 27, 2007
According to http://www.realestate.wukkas.com, a site that specializes in listing government-seized properties for sale, that the latest figures show the number of seized and forfeited properties have increased over the last quarter due to rising interest rates and reckless lending.
Lenders have been warned to tighten the screws when it comes to approving loans for families on unstable incomes. Loans have been approved in the past with little or no credit checks, the people that acquire these loans can not afford repayment resulting in the new property being forfeited or seized by the government.
All that these families are looking for is the great American dream of buying and owning their own home. This dream can ultimately blind them from the fact that the financial demands of paying off a mortgage can be overwhelming and can ruin lives.
It is unfortunate but this is a time when a new home buyer can benefit enormously from the misfortune of others. Since there are thousands of homes being forfeited and seized every day, the government has to auction them off rapidly to recover debt. This rapid turnover results in many of these homes being sold for as much as 90% off the current market price.
You might say this is ridiculous but the truth is that the public interest is so low that there is barely any competition during auction time. Since the Auctions are government run, there is no marketing involved.
Mark Garner, who is based in Miami, is a Real Estate investor who has bought and sold more than 50 - 60 homes a year for the past 5 years across America. He is planning on buying more than 100 properties this coming year.
"I really must say government real estate auctions have been the source of my success for the past 5 years. I really started to think these auctions where my own little secret because nobody seems to know about them."
"I would do my homework and find out when and where the auctions where going to take place, I place my bid and I usually come away with another house. I seriously think that new home buyers don't do enough homework before they run out and buy a house the old fashioned way. They need to open their eyes and see the massive potential in government auctions," Mark said.
Most people don't know where to start researching when buying a new home. The most common place to start is the local newspaper. Everything listed in the local newspaper is always at market value, because of the huge amount of publicity the real estate receives. Little or no saving can be made when purchasing these properties.
You should always start your research on the internet. There are many websites on the internet today that claim to offer the best seized real estate products but they are simply bogus sites that take your money and don't offer you any real value. Many will offer you a refund before purchase, but after you realize you would like a refund, the site owners cannot be contacted. You have to be wary about who you deal with.
"I have tried every seized real estate website on the internet that I know of and have been ripped off by 80% of them. They just don't provide what they claim in their sales copy. I would have to say Wukkas Seized Real Estate (http://www.realestate.wukkas.com) would have to be the best site I use for quality and assistance," Mark said.
Now is defiantly the time for real estate investors and new home buyers to take advantage of the forfeited and seized real estate market. Save yourself thousands and take the stress and worry away from buying your new dream home.