Submitted by: Laura Lhostky(0) Log in to become a member of Laura Lhostky's Fan Club!
For first-time home buyers and savvy investors, the sport of house-hunting has changed from sporadic visits of exquisitely decorated brand new model homes, to guided tours of foreclosed properties offering the opportunity to step into affordable equity.
In the current housing market there are many homes for sale in what is termed a short-sale. That means that the original purchase price of a home is greater than what the home can sell for at present market value. That is not good news for the lending institution; however, it is great news for you, the buyer.
There is a trend developing in real estate now. Real estate agents are putting together walking or driving tours of foreclosed properties, which gives the home buyer/investor an opportunity view all of the locations in one block of time. Real estate agents will run these tours on a weekly basis, usually on a Saturday, to help insure that investors see homes as they become available.
Many times when a home becomes available and the price is very appealing, the home will be sold in a matter of a few short days, if not a few hours.
We could use San Diego as a great example of the value of a foreclosure walking tour. San Diego is at the bottom of a 15 year real estate cycle.
Foreclosures hit the market on a daily basis. Actually, San Diego is one of the top 10 cities in the nation hit hardest by the foreclosure boom. Planning the time to meet with an agent is very prudent when the housing market is volatile.
San Diego Real Estate Agent, Laura Lhostky, offers foreclosure tours on Saturday mornings for her investors or buyers interested in investing or moving into downtown San Diego. This model of investment hunting has been very useful to Ms. Lhostky's clients as they get up-to-the-minute views of available properties. When a home in San Diego is in foreclosure or is listed as a short-sale, that usually means a significant savings for the buyer and the sooner a buyer becomes aware of the opportunity and is able to take action, the more likely they are to get and close a home deal.
Because there are so many homes in foreclosure at this time, and more are coming on the market everyday, lenders are willing more now then ever to negotiate.
To be assured you are getting accurate information on all available foreclosures in your area, it is best to work with a real estate agent. Many times when properties are listed in the paper or other publications it is not evident that the home is a short-sale.
Foreclosure tours are a fun, informative way to view a good sampling of available properties in your area. Be sure to check www.LauraLhotsky.com , click on Foreclosure Tours for an updated schedule or Google for real estate agents in your area who may be running foeclosure tours.
Laura Lhotsky, Realty Connex, 1608 India Street, San Diego, California, 92101, www.LauraLhotsky.com ,
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