Buying Foreclosures: Cashing in on Growing Savings

by : philip smith



Buying real estate these days can be a shaky proposition. It seems all we hear about is how poorly the real estate market is performing, how much money investors have lost recently due to falling home values, and how uncertain experts are about when the market will rebound. But amidst all this seeming chaos, a chance to buy real estate for huge discounts and incredible potential investment value has arisen: the chance to buy foreclosures.

Foreclosures are properties sold off by mortgage lenders as a means of collecting a debt owed by a previous owner. While they are not traditional types of property sales, they occur every day in every state across the nation. And since they are sold for much less than they are actually worth simply to cover a debt, buyers often find huge discounts of up to 60% off on apartments, houses, condos and more. This creates instant appreciation and investment value, since you've bought the property for less than it's actually worth!

And the market for foreclosures is current thriving nationwide. The national foreclosure rate has been rising steadily for several years now, and from2007 to 2008 it rose over 40%.With the national inventory of properties in some stage of foreclosure estimated to be around 500,000, there are all kinds of incredible chances to buy.

If you're interested in cashing in on this incredible chance for savings, try searching for foreclosures with a reputable listings service, such as the one available at ForeclosureDeals.com. ForeclosureDeals.com specializes in providing advice for buyers as well as listings, so they can be a great place to get started.