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Foreclosed Homes – the Thing of Today

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By : Dywon Marck Taylor    99 or more times read
There have been many reports that foreclosed homes, the banks that own them, as well as the listings have been helping out those people who are looking to buy houses they have always wanted in the neighborhoods. It has become the “in thing” at the turn of the century, especially in 2010, because the number of foreclosures has risen at least 28 percent since last year, 2009. A lot of these homes are owned by banks, just like the bank foreclosed homes in Indianapolis. Buyers speak directly with the bank’s officers to be able to purchase the house that they want.

Owning foreclosed homes is not embarrassing. People should really look into it. If you have the opportunity to purchase a foreclosure, you will see that buying a foreclosed home is the best investment you can do. Not only will you own a house, but you will own a house at just a fraction of the price it was originally. With just a little tweaks here and there, you’ll have a brand new home. There are nice foreclosed homes that sell for $50,000-$100,000. Compared to renting an apartment in Glendale, California for about $2,500 a month, you can buy a house for about a year and 8 months worth of rent. With that amount of money, you will only be able to stay in that apartment for less than two years, but with a house, it’s yours forever, without worrying about rent and landlords.

As mentioned, a lot of people have been considering buying foreclosed homes. A buyer had a lot to say about the bank foreclosed homes in Indianapolis. He said that if the property was not such a good deal, he would not have bought the house! He bought the house for $110,000 and spent about $15,000 for the overall renovation, which included better flooring. Simply put, the house was a steal for $125,000 compared to other homes in the area that were at least about $160,000.

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