      
 First Time Buyers Can Cash in at AuctionPublished: Thursday, March 26, 2009 A few weeks ago this blog talked about how auctions are perfect for investors who want to pick up additional properties from among the Southern California foreclosures currently on the auction block. But first time home buyers can also cash in on San Diego bank homes, Inland Empire REO properties or Orange County foreclosures by buying at auction as well. In fact, first time home buyers can often find the perfect property at incredible discounts just by browsing the foreclosed homes listings offered by the auction company and then narrowing their choices to two or three that meet their needs and include their must haves" in terms of amenities. What types of homes can you expect at auction?The great thing about home auctions is that all types of properties are listed, from one bedroom condominiums to multi-family apartment buildings. Five bedroom estates on rural acreage will be sold right alongside single family tract homes in the best in town" neighborhoods. With such a diversity of listings, every type of buyer can be successful at auction, from well-financed investor to seasoned "flipper" to first time novice. Many of today's first time home buyers are families that just a few months ago couldn't afford the high price of Southern California real estate. But continued declines in home values because of increased Southern California foreclosures have created opportunities for many families to buy homes. The great news is that at auction, single family homes of all shapes and sizes can be found for starting bids as low as $1,000. It is not uncommon for lenders to auction smaller single family homes for under $100,000. Some lucky buyers can even get larger single family homes, many in top notch neighborhoods like Murrieta, Temecula, and Orange County for about the same price. Many of these homes were built new within the past five years and come with granite countertops, upgraded carpet and larger family rooms with fireplaces. Don't let your status as a first time home buyer stop you from checking out the great bargains you can find at a lender owned, foreclosed home auction near you. Other Recent ArticlesHome Buyer Tax Credit Extended Until April, 2010Category: Recent Articles Published: Thursday, December 10, 2009 The federal tax credit has been extended to April, 2010, including an expanded benefit to existing home owners who sell their homes and then repurchase a new primary residence valued at $800,000 or less. This could be the perfect opportunity for buyers who wanted to cash in on home auction bargains but were fearful of lower resales on their existing homes. 57,000 Foreclosures Remain in California – Lenders Scheduling More Home AuctionsCategory: Recent Articles Published: Thursday, December 03, 2009 The Southern California foreclosures market may be shifting, with fewer homes entering foreclosure than in previous quarters. However there are still 57,000 existing foreclosures statewide that need to be sold, and lenders are looking at foreclosed home auctions as a major tool to sell large numbers of foreclosures in a short amount of time. Southern California Foreclosures Still the Bulk of Home SalesCategory: Recent Articles Published: Friday, November 27, 2009 Southern California foreclosures still account for the bulk of area homes sales and lenders are finding real estate auctions the fastest and most efficient method of clearing their books of REO properties. Buying a home at auction requires a little prep work, however and the experts at homeauctionexpo.com share their insight on how to find the best auction properties. |
