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The Quality of the Neighborhood is an Important consideration when Purchasing a Foreclosure Home
from:When you are prospecting for a foreclosure, home the neighborhood should be taken into consideration. We all want to have a great home, but the neighborhood also plays a big part in the value of the foreclosure home purchase.
Investigate the area:
• What is the surrounding property like? Is it well kept or rundown? Is it a residential area exclusive to homeowners or is there a mixture of homes and rental units sandwiched together?
• Is the community stagnant, deteriorating, or being built up?
• Is there commercial property in the area? Are their retail stores and grocery chains either already in the neighborhood are considering coming into it?
• Will you have easy access to retail outlets without having to use your car each time you need a loaf of bread or and gallon of milk?
• Do you have access to buses and taxis, trains, subways or other public transportation?
• How many for sale and for rent signs are visible? From a foreclosure home purchase standpoint, it is always a more lucrative investment if there are more homeowners than renters or tenants in the immediate area. Property values are higher in an area that caters to homeowners.
• Not only is it important to consider the condition and age of the foreclosure home you are considering, it is also important to look at the age and maintenance level of all the homes in the area.
• Similarly, consider the age and quality of the cars in the area as well as the city maintenance of the roads and streets. Are there quiet residential streets or busy thoroughfares?
• Are the sidewalks clean and litter free, is there a good quality trash collection system, are the public parks well maintained?
• Are there community centers, schools, training centers, career opportunities in the area or close to the area in which you would like to buy foreclosure home?
• How good are the schools rated in the area?
• Consider the noise factor if you will purchase a foreclosure home in the vicinity of a industrial park, opposite an elementary or high school, or within the downtown core where there is traffic congestion, night clubs and various other night life activity.
• What is the level of security in the area? Are there hospitals, clinics, fire stations, and police stations? Is there a neighborhood watch?
• What is the crime rate in the area?
As you can see from the details provided above that purchasing a foreclosure home is more than merely living in a home, it is a community investment. For more tips on community living click on the site U.S. Department of Housing and Urban Development
Foreclosure Property News
Housing market shows early signs of healing - msnbc.com (blog)
 msnbc.com (blog) | Housing market shows early signs of healing msnbc.com (blog) But those portions were down from 29 percent in March and 37 percent in April 2011, said the NAR, where analysts also contend that a "diminishing share of foreclosed property sales is helping home values." NAR cited Seattle, Phoenix, Washington, DC, ... Existing home sales and home prices ticked up in April US home sales rise for first time in 3 months NAR: existing home sales, prices, inventory levels improve |
FRENCH VALLEY: Ex-officer guilty of trashing foreclosed home - Press-Enterprise
 Press-Enterprise | FRENCH VALLEY: Ex-officer guilty of trashing foreclosed home Press-Enterprise BY SARAH BURGE After less than an hour's deliberation, jurors convicted a former San Diego police officer Monday, May 21, in the trashing of his foreclosed home in French Valley. Robert Conrad Acosta, 40, was found guilty of stealing fixtures valued at ... Monique Acosta, California Foreclosure Victim, Found Guilty Of Vandalizing Home WINCHESTER: Husband convicted of defrauding bank Ex-cop, wife convicted in house trashing |
Sales of Previously Owned U.S. Homes Probably Climbed in April - Bloomberg
 Bloomberg | Sales of Previously Owned U.S. Homes Probably Climbed in April Bloomberg Five-Year Low Foreclosure filings fell to a five-year low in April as lenders sought to avoid seizing property. The number of default, auction and seizure notices sent to homeowners totaled 188780 last month, down 14 percent from a year earlier and 5 ... |
Virginia property, birthplace of Triple Crown winner Secretariat, auctioned ... - Washington Post
Virginia property, birthplace of Triple Crown winner Secretariat, auctioned ... Washington Post The Virginia property where Triple Crown winner Secretariat was born has been sold at a foreclosure auction for nearly $5.35 million. Mark Motley of Motley's Auction & Realty Group said the State Fair of Virginia's real estate, including the 360-acre ... |
Carolina Real Estate Professionals Helping Local Homeowners Avoid Foreclosure ... - PR Web (press release)
 PR Web (press release) | Carolina Real Estate Professionals Helping Local Homeowners Avoid Foreclosure ... PR Web (press release) By earning their Certified Distressed Property Expert® (CDPE) Designation, local real estate professionals learn how to help homeowners facing financial hardships by understanding their individual circumstances and how to navigate foreclosure ... |