      
 Riverside County Property and Home Auction Scheduled for March 16thPublished: Thursday, February 26, 2009 Homebuyers hoping to find a great deal on Riverside County homes should consider the annual Treasurer-Tax Collector property and home auction, scheduled for March 16th at 9:00 a.m. While many savvy buyers have been able to pick up deals on Riverside County foreclosures and bank owned homes, this auction offers a unique opportunity to acquire prime Riverside County real estate without having to worry about declining home values. Prices Based on Back Taxes OwedThe minimum bid for these home auctions is the amount of back taxes owed. This means you can pick up a beautiful Riverside executive home for as little as $10,000 or a Norco equestrian estate for around $17,000. Smaller parcels of land, those with traditional single family homes, command opening bids as low as $3,000! These deals can be found in virtually any community in Riverside County, and provide buyers willing to do some legwork with the opportunity to own premier Riverside County real estate at a fraction of the cost. How to Buy at the Riverside County Home AuctionThe first step in purchasing one of these tax sale homes is to pick up a copy of the tax sale book, available from the Treasurer-Tax Collector's office or online at www.CountyTreasurer.org. This book contains the listings of each property offered at the Public Tax Sale, segregated by geographic area and identified by Assessor's Parcel Number. The amount of the minimum bid is listed, as well as the last known home owner. Then buyers will want to zero in on communities they are looking at, such as Murrieta, Temecula wine country, the desert resorts of Palm Springs and Indian Wells, or convenient downtown Riverside. After you identify a few prospective parcels to buy, investigate them thoroughly to make sure the property meets your needs. Just because it is located in a prime area it may be the odd-house-out in the neighborhood or simply not large enough (or small enough) for your investment strategy. You will also want to investigate the status of liens on the property. The County Assessor's office can help you with that. Certain liens, such as other agency tax liens, non-discharged IRS liens and recorded Offers of Dedication cannot be removed and will remain with the property until paid or released. While the quantity of these special liens is minor, having the information up front can result in a successful purchase at auction rather than finding yourself on the hook for $50,000 in unpaid taxes for the previous owner. 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.  February 2009
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