      
 Luxury Condos, Seaside Estates – Foreclosures Auctions For Every BuyerPublished: Thursday, August 06, 2009 Foreclosed home auctions are not just for buyers of single family homes. While traditional tract homes make up the bulk of the foreclosed home market, owners of luxury estates and ocean side condos have also found themselves upside down on mortgages or in financial trouble that has led to foreclosure. As a result, buyers of Southern California foreclosed homes are able to find these unique properties on the auction block, saving thousands of dollars over previous sale prices. A recent condo auction at the Oceanside Terraces project resulted in 29 condo sales in less than 50 minutes. Although not a foreclosures auction, sales at the project were stalled and the builder felt the fastest way to sell the remaining units was through the real estate auction process. These luxury condo units, steps from the Coaster Station and a few feet from the golden sand and the Oceanside Pier, sold quickly because buyers know the auction process is the best way to find great deals at true market price. Prices were up to 30% below what original buyers paid when the project first went on the market. Coastal Foreclosures Auctions Create Unique OpportunitiesSimilar bargains were recently found among luxury Orange County foreclosures in Newport Beach, with units previously selling for up to $2 million being auctioned for $750,000. These luxury foreclosures are creating unique home ownership opportunities for discriminating buyers. Once the playground for the rich and famous, living along the California coast is a dream that now well-qualified, ordinary home buyers can achieve. Buying a foreclosed home at auction guarantees that buyers pay true market price, can close escrow quickly and deal with sellers that are truly motivated to sell. Nothing is more challenging for serious buyers than having sellers balk at market pricing or change their minds at the last minute. Luxury real estate auctions offer buyers the same benefits. Pricing is fixed by demand, sellers have committed to selling the homes on the day of the auction, and buyers know that they are getting a terrific property at bargain pricing. Whether shopping for a single family home among Inland Empire foreclosures or looking for a luxury estate home among Orange County bank homes or San Diego foreclosures, take a look at the foreclosed home auctions in your area. Current prices are rock bottom and sellers are cooperative! 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.  August 2009
  S
M
T
W
T
F
S
 CategoriesBlog Roll & Resources
|
