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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: The Duke of URL© who wrote (5751)	10/1/2002 2:05:48 PM
From: Tradelite	Read Replies (1) \| Respond to of 306849

Duke, I agree with your view of the so-called foreclosure opportunities. If the property is any good, the owner can unload it easily before a foreclosure, or the bank will sell it for top dollar. If the property is no good--which in my experience describes almost all foreclosed properties--you don't wanna touch it with a 10-foot pole. It will bring you nothing but maintenance and resale headaches, unless of course you are an experienced real estate investor who knows how to deal with these types of properties and knows how to make a buck no matter what. Most foreclosures seem to occur in the lower-priced ranges and the properties have been sorely abused or neglected by people who have no money and don't care. The ones that occur in high-priced properties usually seem to involve poor locations (busy streets, poor lots, for example) or outlandish design--incurable defects unless one is rich to begin with and can fix it all. Of course, if one is rich, one doesn't even consider buying foreclosures.