Monday, June 13, 2005

Profit on Your Next Home

With 4% of American Mortgages at the risk of Foreclosure,increasing economic uncertainty,and the prospect of higher interest rates the Mortgage Bankers Association of America estimates that there is $360 Billion dollars of realestate that could come on the market under forclosure conditions.

Forclosures are an excellent way to find bargain realestate, and with a little work, you can turn a profit.
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Buying a Foreclosure Property Below Market Value: Five Tips from the Pros

House hunting can be a very daunting experience, especially in today’s real estate market. Both investors and home buyers have been priced out of the market by escalating costs, and good real estate deals are increasingly difficult to find.

But there are bargains out there, for people who know where to look.

“For people willing to do some homework, the foreclosure market offers some of the best opportunities in real estate today,” explains James J. Saccacio, chief executive officer at RealtyTrac, the leading online foreclosure marketplace.

Web-based services such as RealtyTrac give consumers access to foreclosure and pre-foreclosure information that was previously available only to professional real estate brokers and investors. Today, homebuyers can use these services to assist them identify and research potential home purchases, as well as the tools and professional resources they need to help them close the deal.

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