In some States like California...there is NO such thing as buying "Foreclosures for pennies on the dollar, but there are some great deals out there is you are looking for something below market...."Fixers"

Here is the truth about foreclosures in CA right now!

California foreclosures are on the rise, but when it comes to homes sitting on the market you are more likely to get a better deal when dealing with a homeowner in need of selling their property. When it comes to REO’s many times the banks will not take an offer without pre-qualifying with them 1st. Large banks have really only one type of product and most people don’t qualify for their programs unless they have credit scores of over 700+.


R.E.O:

1. Sell property As-Is
2. Sell for Market Value
3. Banks can sit on property
4. No Closing costs
5. No repairs
6. No renegotiating

Listings:

1. Closing costs
2. Sellers can’t afford to sit on property
3. Always room for Re-Negotiating
4. Credit/Cash back for repairs
5. Flexibility on pricing

if you are in the market to buy a home as a 1st time home buyer why not go to where you can get the biggest bang for your buck!

Some lenders are agreeing to pay "some" closing costs, but lenders are not going to make sure the property is in good shape...it's a buyer beware!

If you have any questions about the market or interested in buying a home or thinking of investing in Real Estate it's still a great time to buy and invest! You might not see the 20-25% increases that we saw a couple of years ago, but it's always a good investment in homes! sure it's slowed down, but now you just have to find the right property for the right money and hold it for a year!