Foreclosed Homes a Deal for Buyers Washington DC

Consumers' temptations to cash-in on foreclosures come with reservations. Getting rid of those jitters requires a measured approach to the transaction.

by Broderick Perkins
© 2008 DeadlineNews.Com



Deadline Newsroom - Any savvy real estate investor will tell you a foreclosed home that is priced-to-sell could become the deal of a lifetime.

That's especially true right now because there is an over-abundance of distressed properties on the market. RealtyTrac recently reported the number of foreclosures nationwide rose 65 percent in the past year.

There is no question that there is also a fast growing interest in foreclosures. Trulia.com says searches for foreclosures on its Web site were up more than 200 percent in the first quarter this year.

But many of those searches are just that, searches.

While many consumers are tempted to cash in on a foreclosure deal, those temptations come with reservations. More consumers believe, when it comes to foreclosure bargains, the devil is in the details.

In a recent Harris Interactive survey for Trulia.com, more than half of those surveyed said they would consider buying a foreclosed home, but they also indicated that they are jittery about the prospect. ...

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