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I have a doubt. I was going thru some of the foreclosure listing sites and I saw some of the home prices are way toooooooo low. Like 30,000 for a single family home!!! That sounds like too good to be true. Are they really true prices? If so why are they so low?
Thanks
H-U-D would be my guess. A lot of these houses are gutted when the homeowner leaves. The most shocking case I saw was a SECOND STORY condo owner taking his ground level a/c unit with him. HUD has property reports that outline all of this and you should read them carefully.
That condo was listed for $24K but you had to bring your own A/C
There's a regular here that I've seen post about Kings Mountain. I have no personal familiarity with the area but maybe that individual can share her perspective about the area the following home is in. And granted, it's not Meck County but, a good friend informed me about this home she considered and thought I might be interested in (I'm not). It's on Mary's Grove Church Rd, 3/2, 2000 sq ft, large lot, needing minor cosmetic work only, all plumbing, electrical, etc in place. Front and back porch, large deck. $49,900. I got the impression that it's a "country" setting but not necessarily "undesirable". But again, I've never been there but I'd be interested in the opinions of others who do know the area.
Again, that's not Meck but I get a lot of similar Meck listings also. But I was just informed about the above.
H-U-D would be my guess. A lot of these houses are gutted when the homeowner leaves. The most shocking case I saw was a SECOND STORY condo owner taking his ground level a/c unit with him. HUD has property reports that outline all of this and you should read them carefully.
That condo was listed for $24K but you had to bring your own A/C
The property reports are one reason I really like the HUD listings! You've got a very good idea of what you'rew walking into sight unseen. I've found them to be very detailed and usually spot-on.
I also like the way the bidding process works with HUD. Takes virtually no time at all to see if you've either won or lost and many of the human factors are removed from the equation.
Hi, I think that I can answer your question! Yes, there are many homes listed at low prices such as $30,000, especially depending on the area that you may be searching.. A high foreclosure area? Florida, Michigan? I am a Realtor in Clermont, Florida and I see many homes that are priced really low, but normally this is because the bank has too much inventory and needs to sell off some of it quickly. It is amazing to about 90% of the new customers that I meet, they have NO IDEA of what kind of hit that the Florida real estate market has really had.
Great time to buy some ROCK BOTTOM DEALS if you or someone you know wants to invest here. Did you know that you can buy a home for .20 - .50 cents on the dollar of what was owed? I see homes SELL all day long at ridiculously low prices, because there is too much inventory! For example: A home that has a Judgement amount of lets say $289,000 (that is the amount that was owed to bank when they foreclosed) SOLD for $75,000. The key to searching for GREAT deals is TIME .. time is of the essence when searching for deals, because new deals come up daily and the saavy buyers & investors snap them up in a couple of days.
If you are working with an agent, ask for a daily inventory list, as well as, a list of pending listings that have fell through. I am confident that everyone out there could find an awesome deal, with the right tools! Remember, time is always of the essence in real estate, so don't waste it! Be prepared, get prequalified for a loan, before looking at homes to save yourself a lot of heartache. Know what you can afford.. NOW, is the time to buy! Don't miss out on some great opportunities in the area you live in.
Moderator cut: soliciting
Last edited by Marka; 02-27-2011 at 03:45 AM..
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