Foreclosures Are Not Always A Good Deal

There are currently 35 foreclosures on the MLS system in the Mat Su Valley. If you want to see them all just click here for my MLS searches and then click on the foreclosure search.

Generally these foreclosed properties are listed for a lower price per square foot than the average house. And sometimes…they are a real good deal. The lender who owns the property does not want to keep it. They want to sell it and they will sell it…period.

We have helped many people buy foreclosures this year. Sometimes the property does not qualify for a loan because it is in such bad shape and so a buyer will need cash or a rehab loan. If you have any questions about these rehab loans give me a call at 232-7900. If you work it right you can buy the house with this loan and build the fix-up costs into the loan.

Occasionally a buyer will bite off more than he can chew. They might buy the house and find out that they would have been much better off buying a newer home. Some of these properties require extensive remodeling. For example, if it has mold there is sometimes no choice but to tear it down to bare studs and start over.

If you want to see what’s available in the foreclosure market…give me a call. We have offers on foreclosures with two clients right now.

Or if you want to check out what you can get that is brand new and five star plus we can do that too. We have three brand new houses pending right now and three more on the market. These are great values as well…check this one out.