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The National Foreclosure Market



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By : Jacquelyn Marks    99 or more times read
Many major news companies talk about the ugliness called foreclosures. Many times, there is never a positive view on them. Therefore, many investors tend to associate foreclosed homes with families on the streets and years of valuable equity disappearing right before their very eyes.

Interestingly enough, foreclosed homes are far from the negative views that they are associated. What buyers do not realize is that in many cases owning a foreclosed home has many hidden benefits that are not typically standard with a traditional home. Regardless of what many say about foreclosures, they are the same investment but wrapped in different paper.

A positive that foreclosures have is the tax benefits they carry. Many buyers know about the huge tax incentives that totaled between six to seven thousand dollars respectively in previous years. Moreover, many may know that last year there was tax incentives.

These incentives may be expired but they will rear their financial heads as America takes another real estate dive. Estimated by the end of the year, there will be millions more homes foreclosed on. This applies pressure on the government to provide incentives to unload these homes. Do not be surprised to see the government roll out another real estate plan.

Not receiving a lot of attention is the value that foreclosed homes have. Yes, it is true that homes that did not sell affect-neighboring homes. Nevertheless, a foreclosed home that is bought and then is renovated can bring its value back up again and those around it as well.

The saying that a home is the biggest investment that one will ever make in life still holds wisdom. The only difference between a foreclosed home and a traditional is that the owner was not able to afford the other. The house is still a house.

Buying a foreclosure is a lot like a business. The investor pays into a business no matter its current value, reinvents it, and then turns it over for use or for profit. The same thing with a foreclosed home, an individual readily buys a home they can afford, renovate it, then sells it or chooses to dwell in it. Never underestimate and devalue a foreclosure, the word itself holds negative connotations.

For all the bad press foreclosures have received it has brought a sense of balance to American lives. At the turn of the real estate sliding scale in the middle of 2008, almost half a million homeowners needed help with their mortgage.

Many were not able to pay the escalating and balloon pricing called a home mortgage. This leads to many having to assess their salary and spending. Many homes went vacant. Fast forward to 2011, homeowners are now being more precautionary about loans, credit, and prices.

Americans are starting to giveforeclosures a chance due to the quickness of obtaining one and the affordability they bring. Buyers in America are no longer chasing over sized dreams of grandeur but are simply adjusting to a more normal style of living.
Foreclosure.com is the leading resource for distressed property listings.

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