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Despite the Foreclosures Crisis Real Estate Investors Can Still Benefit

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By : Leticia Carvalho    99 or more times read
Despite the depressing news hogging the spotlight in various media sources regarding the current crisis hard hitting the real estate industry, the market continued to remain stable in Clackamas County in Oregon. This is more evident in the city of New Sandy where homeowners have been avoiding foreclosures through the help of realtors.

By working on new financing schemes, agents have helped these homeowners avoid foreclosures. These realtors have helped their clients obtain reliable credit sources to restructure their loans down to affordable levels. Another pathway to avoid foreclosures is to guide clients in pursuing a short sale, although both lenders and homeowners will not profit particularly if the mortgage has no more equity.

Investors and first time home buyers are satisfied with the home deals they obtained in New Sandy, getting quality foreclosed homes at less than half the price from its original appraised value. Realtors are saying that the field has become a buyer’s market with the significantly reduced prices of homes, mostly foreclosed properties that are being unloaded by banks and lenders.

First time homebuyers, or those who have not purchased a house in the last three years, can avail of the $7,500 tax credit which they can enjoy until July next year. Investors and buyers need not buy in a frenzied mode, allowing them more time to choose the right home.

According to some realtors, media have painted a very negative picture regarding the situation. This made potential homebuyers more reluctant to pursue their investments in real estate. On the contrary, realtors say that there are financial options still available in abundance in the market.

In New Sandy, loans are available from the US Department of Agriculture that can cover up to 102 percent of a home’s purchase price. Other available financing can come from Federal Housing Administration loans that require a mere 3 percent down. There are opportunities out there, realtors are saying, and they have gained more wisdom now for new investors and avoid the previous pitfalls leading to foreclosures.
Leticia Carvalho has been educated in the finer points of the foreclosure market over 5 years.

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