These foreclosure warnings, function as a buyer checklist.
REALTOR® Magazine-Daily News-Foreclosures: Ten Reasons for Buyer Caution: "Daily Real Estate News | December 17, 2009 | Share
Foreclosures: Ten Reasons for Buyer Caution
Foreclosed homes aren’t always the best deal in town – even if they do come with a price tag that appears to be lower than some other homes in the neighborhood.
Here are 10 reasons why that is true, offered by Vince Mastronardi, president of On-Site Specialty Cleaning & Restoration in suburban Detroit.
No heat in the winter. When a home has been left unheated, buyers run a risk of damaged pipes.
Not removed but ripped. Thieves and even angry former owners can do a lot of damage when they depart with fixtures and key systems like heaters and air conditioners.
Peeling, bubbling, and discoloration. Water incursion isn’t always obvious, but these are signs.
Mold. Where there is water there is mold. Look inside cabinets, behind drawers, and around built-ins."
Buying foreclosures in San Diego
Saturday, December 26, 2009
Wednesday, December 23, 2009
REALTOR® Magazine-Daily News-Forbes Names Cities With Biggest Price Drops
REALTOR® Magazine-Daily News-Forbes Names Cities With Biggest Price Drops: "Daily Real Estate News | December 22, 2009 | Share
Forbes Names Cities With Biggest Price Drops
Cities that experienced housing recessions were affected as much by local economic factors as they were by national ones, according to a study by Local Market Monitor for Forbesmagazine.
Cities that have lost the most value are concentrated in the Midwest where unemployment has taken its toll, and in parts of California, Florida, and Nevada where the rising cost of housing encouraged home buyers to gamble on their ability to afford housing long term.
On average, housing markets on the West Coast lost the most value – 21.6 percent since their peak. Florida lost 31 percent. The Northeast lost an average of 8.6 percent, and the Midwest on average lost only 5.6 percent.
Here are the top five cities in each region that lost the most value:"
Forbes Names Cities With Biggest Price Drops
Cities that experienced housing recessions were affected as much by local economic factors as they were by national ones, according to a study by Local Market Monitor for Forbesmagazine.
Cities that have lost the most value are concentrated in the Midwest where unemployment has taken its toll, and in parts of California, Florida, and Nevada where the rising cost of housing encouraged home buyers to gamble on their ability to afford housing long term.
On average, housing markets on the West Coast lost the most value – 21.6 percent since their peak. Florida lost 31 percent. The Northeast lost an average of 8.6 percent, and the Midwest on average lost only 5.6 percent.
Here are the top five cities in each region that lost the most value:"
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