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Is Buying a Foreclosure a Good Idea???

You have seen marquis that say "Stop in Now for a FREE List of Foreclosures."  This has been running for over a year (in a rotation) at our office and continues to bring "walk-in" traffic daily looking for a list.  What if the sign said "Stop in for a FREE list of Homes for Sale in the Area?"  Nothing.  No one would stop. The difference is the "F" word......foreclosures.  Somehow, the term "foreclosure" equals "bargain deal" in the consumer's mind.  But this isn't necessarily true.  Closed sales stats have proven this ture for few foreclosure sellers, including HUD. And I often see homes sell for MORE than the recommended list price!  This happens when a certain property is listed and gets multiple offers . . . the seller requests "highest and best offer" from each offeror, and sometimes they raise the price.  And when you buy a HUD home, it is "as is, where is, together with all faults."  In other words, what you see is what you get . . . . and what you don't see, is also what you get!  The key is that every home should be considered individually.  There are great values that aren't foreclosures . . . including many "ordinary" sales and some "short" sales.  The answer?  Get a great agent to help you decipher the market and make a great buy!  Interest rates are outrageously low, prices are excellent, and selections are exceptional!  This IS America.....the market will bounce back.  Buy now and build your future!  Let me help you!
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