Having heard stories about bargains continuing to fall in foreclosure properties for sale has created people look upon these properties favorably. While each of the stories are true the question to ask is whether or not investing in foreclosure homes for sale could work for you at the same time. It would be wise to look closely in to the technique of buying foreclosure properties for sale.
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According to the Washington County Utah MLS, Washington County foreclosures were up 9% through the same time recently. The foreclosure rate in Washington County for July was 4.15%, about 1% more than the national average of 3.13% and almost 2% more than the over foreclosure rate in Utah (2.22%).
If we compare home sales within the metro Phoenix area since January 2009, it’s interesting to view that total sales in January 2009 were at 4285 and 8254 in June 2009. REO sales were 2881 in January 2009, 4804 in June 2009 and 4246 in July 2009. The REO sales in July 2009 have raised 53% since July 2008 but as we discussed the numbers are decreasing that is a good sign. Short sales were at 396 in January 2009, 1118 in June 2009 and 1344 in July 2009. Although these quantities of short sales still increase, they may be increasing at the slower pace, which very encouraging.
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Do you currently own a property and even sell it off to buy another home? You may qualify. Are you looking to get your house and haven’t owned a home in the past several years? You, too, may qualify. If you are in the process of buying a house, anything you do, browse the extended first-time homebuyer tax credit to ascertain if you qualify. You have nothing to reduce, and everything to get in case you are approved.
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