Everyone knows: foreclosure properties are HOT. Between investors looking for rental properties to ride out the market slump and regularfolks looking for a great opportunity, it seems everyone wants foreclosure information. Are people getting what they want? Foreclosures and Bank Owned properties can save the buyer money, but those buyers must set those expectations properly. Many people are trying to 'steal' properties and wasting agents time with ridiculous propositions like thinking they can obtain a $200-$300K property for $75,000 or something like that. Most buyers don't know that the average discount from list price for foreclosed properties is averaging 27% and buyer must set that expectation. My websites www.BankownedWeekly.com/montco and www.BankownedWeekly.com/MtAiry gives you access to inside information normally available only toreal estate agents and industry insiders. One word of advice: while you can save up to 1/3 the price of a home that is in foreclosure, it is unrealistic to expect to acquire a property formerly priced at $300,000 (for example) for $50,000. Please have realistic expectations and you will be pleasantly surprised With almost half of all real estate sales involving foreclosures in the first quarter of this year, this is something you need to know about.
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