In Houston this year alone the percentage of real estate sales made up of foreclosed properties was well over 15%. With an increasing pool of defaulted properties coming back on the market with much smaller price tags, it's no wonder Houston is big on the real estate map right now. Of course, properties must be bought with care but with plenty of deals to choose from it's easier to find the right one for you.

Many foreclosed properties on bank and government listings are ?fixer-uppers? but an experienced real estate agent can easily point out a good deal from a dud. There is an average of over 1,000 foreclosed homes listed every month in Houston, with an average saving of over 30% of the market price for the buyer. Many times repair costs need not be as exorbitant as the difference you save, and with a little creativity and DIY, a good deal could turn into a great one.

Bids from buyers intending to live in the property are often given priority over those with investment intentions (partly to alleviate the housing problem) but there are plenty of foreclosed, pre-foreclosed, default noticed and REO properties available for most purposes. Different foreclosure property laws and regulations apply in Houston so it would be a good idea to get professional advisement before getting into the bidding process.