Real Estate Pro Articles

More Opportunities to Purchase Fixer Upper Homes in Florida

[Valid RSS feed]  Category Rss Feed -
By : John Cutts    99 or more times read
There are more opportunities to purchase fixer upper homes in Florida, as there were more than 42,000 homes repossessed by lenders in the first five months of 2010.

A percentage of these Florida foreclosures became fixer uppers because some distressed homeowners removed parts of the house or took with them appliances in their anger at their lenders that refused to help them. A number of foreclosed homes also deteriorated after banks failed to resell the properties immediately and did not hire contractors to maintain them.

Prospective buyers can bid for fixer upper homes at auctions in Florida, which are now mostly online. Early this year, the counties of Miami-Dade, Palm Beach and Broward launched their auction websites in partnership with the auction firm that has been handling their tax lien auctions.

But a better way to buy foreclosure homes for sale is through online foreclosure listings. Online auctions are oftentimes risky particularly for those still new to the auction process. There were reports of lost investments after Miami-Dade launched its auction website. There were people who bid thousands of dollars thinking they were getting bargain condo units only to realize much later that what they purchased were tax liens. Some who purchased real condo units discovered that these units came with huge loan balances.

Reliable foreclosure listings offer Florida homes for people looking to purchase fixer upper homes in the state. These listings providers hire experienced researchers and maintain contacts with all types of lenders and home sellers so their listings are always updated real time.

Despite continued foreclosures in Florida, the state is still attractive to home buyers and investors because of its popularity as a fabulous tourist destination, its amenities available for retirees, its pleasant weather, its fantastic beaches, its theme parks and its various leisure activities.

With these attractions, investors who purchase fixer upper homes and renovate them can rent them out and then resell them when home prices move up to more profitable levels.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

Related Articles

Print This Article
Add To Favorites




© All rights reserved to Real Estate Pro Articles