Miami Foreclosure Homes Skyrocketing

By: philip smith

With the real estate market in a well publicized slump these days, buying a new home or investment property isn't the first thing on everyone's mind. It seems all we hear about is how slowly the market is moving, and that no one is certain when homes will begin to have appreciation value. However, what many do not realize is that this has actually paved the way for one of the best real estate values to come around in years, the chance to buy Miami foreclosure homes.

Buying Miami foreclosure homes is different from other sales, because it involves buying property directly at auction from mortgage lenders looking to sell the property as a means of collecting a debt owed by previous homeowners. However, since this debt is so often well below the true value of the property, buyers find Miami foreclosure homes for sale at anywhere from 10 to 50% below what they are really worth.

And with the market for Miami foreclosure homes booming, there are all kinds of opportunities for capitalizing on this chance for instant investment value. Miami is home to one of the most hectic foreclosure markets in the country, with over 1,000 foreclosures coming on to the market every week so far in 2008. As the volume increases, prices are going further and further down at auction, leading to huge values for buyers.

Get started buying these valuable properties by searching for Miami foreclosure homes listings with a good service such as ForeclosureDeals.com. ForeclosureDeals.com can help you find good listing information, as well as teach you about buying foreclosures, which can be helpful for first time buyers.

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