foreclosed homes, short sale
In the current chaotic real estate market there are many angles to consider before making any purchase. For instance, if you're trying to get into real estate investing, is it better to know how to purchase a short sale home, or should you try buying foreclosed homes? Well, for example, in the California real estate market, which is one of the hardest-hit in the nation, the opinion of most realtors and real estate investors is that only foreclosed homes and short sale properties are selling. Sales of new homes have stalled to the point where they are almost non-existent. So, if your choices are between buying foreclosed homes and short sale homes, which one offers a better opportunity for the investor. At this point in time, my advice is to go after foreclosed homes rather than short sale homes. It's easier and faster to purchase foreclosed homes and offers a lot less hassle to the investor. Did you know that it can take up to six months to close a deal on a short sale? And because of the ongoing drop in housing prices, the seller might have to go back and renegotiate the selling price with the lender because the home may be worth far less than it was when the deal was first initiated. So, take my advice and go with foreclosed homes instead. It's easier and faster.