Foreclosure is not the same as bargain

If you ask a few people who have actually purchased foreclosured properties, you’ll discover it’s not as easy as you’ve been led to believe.

The Foreclosure Article describes a typical scene.

Foreclosures often take cash and effort to be restored.

Foreclosures are not always a steal (regardless of what your friends and relatives who have never purchased a foreclosed property tell you).

The statistics¬† tell the story better than me.¬† The final sale prices are a higher percentage of list price than in a “normal” market.

Getting caught in the hype and listening to people who don’t have a clue got us into this mess in the first place.¬† Don’t let it happen again.

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