Many new homeowners cursed themselves the day they signed in ink.
While owning a home has always been the "American Dream," it has slowly turned into the American Nightmare over the past two years. With interest rates at all time lows and building as hot as ever, new buyers and people primed for an upgrade where buying into homes that had not even been built yet, often times camping out in front of construction trailers waiting to get a lottery ticket.
Unfortunately, as the market cooled and rates began to climb, homeowners found out that their dream investment would not be something they could turn quickly for a profit. The disastrous lending market came to a screeching halt, and the frenzy was over. Prices in the HOTTEST markets dropped like lead weights, and many homes were on their way to foreclosure before the paint was even dry.
As the dust from this market earthquake just now begins to settle, people still able to move in the market will find for sale, new homes foreclosed on before they were ever lived in. In the past, foreclosure homes were old and beaten, and often required a handful of upgrades to bring them up to par. In this new era, new homes foreclosed and for sale in the best neighborhoods are not so hard to find, and you can buy them for less than it cost the builder to build them. It is an opportunity that we haven't seen in this generation, and we hopefully will never see again. They always say that the best time to move is when there is blood in the streets. And though we may never want to see this again, those who are well positioned will likely not let these new homes foreclosed that are for sale pass them by.
Search our free national network of real estate listings to find Las Vegas homes and residential listings for sale and buy Florida real estate listings 20% to 50% below market value. Our real estate search engine finds the lowest priced real estate listings from California to Miami and you can buy residential listings in your neighborhood $10,000 to $100,000 below market value. Buy Chicago real estate listings at the best price with our real estate search engine to buy homes for sale and real estate listings 20% to 50% below market value on www.PropertyHookup.com.
|