Trulia Real Estate Foreclosure tips special edition: Part two

Foreclosure tips special edition: Part two

Tue, Jun 10, 2008

Worried about buying foreclosures? More top tips from the experts

Time for your second installment of Foreclosure Tips from the experts! Heard about foreclosures in the news but still not sure how they work? Don’t worry, you are not alone. While searches for foreclosures on Trulia.com have increased 4x since January, our latest foreclosure survey shows that home buyers still have cold feet about the whole process.

We’re here to help! Here’s Part II of Foreclosure Tips from our Trulia Voices foreclosure specialists. Missed Part I? Check out the first issue and many more in the Newsletter Archives.

More foreclosure tips to put your home buying fears at rest

Aim high:

Find out the overall value of the neighborhood in which you are buying. A foreclosure may allow you entry into a better neighborhood than you could normally afford.

Be current:

Look at neighborhood stats with an emphasis on real time sales. Compare current and last year’s home values to determine which way the market is moving.

All foreclosures are not created equal:

The foreclosure stage can be profitable when it goes to the public “auction” stage. The best REO deals are often situations where the home has been on the market for 60 days or more.

	Q: With all of the foreclosures in the Reno market, can you get a home through auction at below market price? Asked by Lexi Cerretti, Real Estate Pro in Incline Village, NV
	A: Auction is one way to acquire a home. Reno is not having the same issues with foreclosures that Las Vegas is having. Most of the foreclosures that I have seen in Reno… see more

Spring into summer for under $250,000

Last weekend’s Memorial Day holiday kicked-off the unofficial start of summer and nothing screams summer more than barbecue! We found the top three cities in the U.S. with award-winning BBQ: Austin, Memphis and Kansas City. Check out these great homes for under $250,000: