From one end of the country to the other, cheap houses
are for sale. A growing tide of foreclosed properties
in the housing market has some buyers seeking a once-in-a-lifetime opportunity. They're buying up bargain homes for sale at incredibly low prices. For many seasoned real estate investors, the mantra these days seems to be "grab 'em while you can." In many cases, these cheap homes sell quickly.
While there are reports of investors literally buying bargain homes in bulk, would-be homeowners are not excluded. Despite economic fears, this just may be an ideal time to think about first-time home ownership. Renters around the country are realizing their dreams of owning their own home and, in many cases, are making mortgage payments that are less than a month's rent. How is this possible? Well, for a real home bargain, look no further than homes that have gone through the foreclosure process and are now in the hands of the original lender. These homes are known as Real Estate Owned (REO) property
and are being sold for pennies on the dollar. Banks are highly motivated to get these homes off their books!
A concern that some people have about these cheap homes is that they may have been neglected and in need of repair. However, informed home buyers know that the savings often far outweigh any cost of repairs. Also, many home buyers are able to qualify for affordable FHA financing that includes the cost of the home and the cost of repairs-all in one loan. Plus, just like other home purchases, buyers are entitled to hire an inspector to find out exactly what's wrong with the property and what needs to fixed before purchasing an REO home.
Where to start? Find houses for sale at dirt cheap prices on this very site. You'll find detailed information, photos, and documentation on bank owned homes to help you make an informed decision. What are you waiting for?