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Tax Foreclosure Homes for Great Vacations

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By : Julie Thompson    99 or more times read
Every year families all over the US look forward with great eagerness to their annual vacation. It is a great tradition in the US to take an annual vacation, but with rising costs of fuel, food and accommodation, where to take the annual vacation is becoming a worry. Vacations should not be a time to worry about all the expense and with all the tax foreclosure homes available many families are opting to buy vacation homes from this market.

Investing in a vacation home might seem like an expensive undertaking, however with all the tax foreclosure homes available in states like California and Florida, bargains can be found. These can be rented to other vacationers also; any local real estate or letting agent would be able to assist you with this. So if you have the money to spare and a good credit record this kind of investment could just be your cup of tea. Renting your vacation home while you are not in residence on your annual vacation is a really good way to let this kind of investment pay for itself.

The IRS always tries to hold off on foreclosing on a persons’ home. Unfortunately many people ignore the fact that they have tax liens over their mortgages and do not pay this money back to the Government. In this instance the IRS is then forced to foreclose on the property and the IRS is the major lien holder on any mortgage, even the lender is second in line to the IRS. When the Government forecloses on these properties they become the owner and they have quite literally thousands of tax foreclosure homes for sale. Tax foreclosure homes can be bought for greatly reduced prices and they make great first, second, vacation and investment properties.

When buying tax foreclosure homes your budget should always be first and foremost in your mind. Market conditions are favorable right now to purchase these and as there are so many to choose from you are bound to find something that suits your budget. Some tax foreclosure homes have unbelievably low asking prices. Property values have declined in some areas to less than 30 or 40% their previous value and when these are sold on auction, savings of as much as 50% can be had.

Investors cannot afford to pass up on an opportunity like this, financial analysts believe that the market will bounce back soon, but for the present time it is a buyers market. Investing in real estate has always been considered to be one of the most worthwhile investments anyone can make.

Just think, instead of spending all your hard earned money on hotels, restaurants and entertainment, for this money you could invest in a vacation home that earns its own keep. Your annual vacation will never be the same again, it is very possible that the vacation rentals from this second home will even cover the cost of your annual vacation and you will find yourself with some extra pennies in your pocketbook.
Julie Thompson, has been working on studying the foreclosures market, helping buyers on the finer points of foreclosures for sale. Try to visit and begin your foreclosures by state search.

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