I wish to sense about the Foreclosure Market, as well as I listened which Jeff Adams complement will assistance me sense about today’s market. Has any a single purchased this yet? Or has any a single even listened about Jeff Adams?
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There are a ton of books on this topic. Every area of the country is different so the advice may not be pertinent. In my area houses are listed in the paper 3 times then auctioned on the court house steps – you have to bring a cashiers check made out to yourself for the total purchase price (your top bid is 200K but you win the house for $175K – you will get the difference back after the auction when you go to the bank). Lots of people use to do this but my area is so over run with foreclosures and the prices are dropping so fast, that no one goes to the auctions now. They wait for the bank to repo – remove the people, fix up the house and offer it for sale – for a price that is now lower than what they were asking as a base bid at the auction. I would seek out people in your area that buy foreclosures or go to an auction and talk to the auctioneer. You will get a better idea of how things are done in your area.
The best way is to do the research yourself. I hate to sound cynical, but if you check these “gurus” out, you will find they make their money from their books and seminars-not their investment strategies. Their honesty ratings are right up there with psychics…
I was trying to buy a foreclosed home a while ago but i feel for the people who were loosing their home too
Don’t really know how much you already know but ive linked you to a organisation site for foreclosure
http://foreclosurefinancing.org
Hope this helps
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