      
 Foreclosed Home Auctions Perfect for Buying Vacation PropertyPublished: Wednesday, September 23, 2009 Foreclosed home auctions are not just for buyers looking for single family homes or investment property. Many smart buyers are finding real estate auctions are the perfect place to find affordable luxury when it comes to buying a second home or vacation destination. With one of the most volatile economic climates in the last century nearly behind us, even some owners of luxury mountaintop estates or riverfront getaways are finding themselves in financial trouble and their homes on the foreclosures auction block. This is good news for buyers who have always dreamed of owning a vacation home but have never been able to find these high demand properties affordable. Southern California Foreclosures Include Ski Resort ChaletsA quick look at an upcoming foreclosures auction highlights several properties in the San Bernardino Mountains, just minutes away from the ski resorts of Big Bear Mountain or Snow Valley. In fact, almost a dozen single family homes in Crestline, Twin Peaks and Idyllwild are all listed with starting bids under $10,000. At least five of them had starting bids under $1,000! Imagine, owning your own secluded mountaintop getaway for less than you paid for your latest car! Coachella Valley Foreclosures Also on the BlockFor those who prefer the warmth of the desert sun and the golf course to the chilly ski slopes should take a look at the luxury resort condos available in Palm Desert, La Quinta and Bermuda Dunes. With starting bids under $5,000, these Coachella Valley resort properties bring new meaning to the term "affordable luxury". With such low prices, however, many of these foreclosed home auctions are cash only and no financing is available. It is also important that buyers exercise their right to inspect the properties, perhaps even more so than with traditional real estate auction properties because second homes are often vacant a good portion of the year and the likelihood of repairs is higher. You may have been watching median home values plummet in a particular area thinking you want to cash in on the next big real estate boom, but don't want to be a landlord or relocate. Buying a second home or vacation house at a Southern California foreclosed home auction can help you take advantage of the current market conditions and buy your vacation dream home in the process. 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.  September 2009
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