RealtyBargain.net now offers online real estate auctions, with bids starting at just $1! With housing prices at an all time low, there has never been a better time to start investing in real estate than right now!
The housing recession, which started in 2008, caused housing prices to hit historic lows. Many homeowners bought homes they couldn’t afford, which contributed to the sub-prime meltdown. Banks suddenly found themselves with an overwhelming surplus of foreclosed properties. At that time, interest rates for mortgages were sky-high, and real estate prices were astronomical. However, before the mortgage meltdown, banks were still giving loans to just about anyone. Many people suddenly found themselves with balloon payments they couldn’t afford, and lost their homes to foreclosure. RealtyBargain.net offers foreclosed homes for sale directly to the public. If you saw real estate losses from the recession, now is the time to make up for those losses with the foreclosure buying opportunities like those presented on Realtybargain.net.
The recession of 2008 has been named “The Great Recession.” Indeed, for many Americans, there has not been a more devastating or sustained period of economic downturn since the great depression. Many people have found themselves upside down in the past few years, often times resulting in a foreclosure. Some areas were hit harder than others, and there is perhaps no better example of such an area than Detroit. Detroit is a city rich with history, culture, and good people, but a city which was hit hard by the recession. While areas such as California may have seen real estate price declines of 25-50% on average at worst, Detroit has seen real estate price declines closer to 50-75%.
Why now is the perfect time to buy
With housing prices at an all time low, there has never been a better time to buy than now! With the number of foreclosed properties and Bank owned REOs quickly shrinking on the national level, if you’ve been waiting to “strike while the iron is hot,” then wait no longer! At RealtyBargain.net, you’ll find real estate auctions start at $1. However, as the number of foreclosed diminishes, RealtyBargain.net’s low prices Will Not Last! Mortgage rates are at record lows, which is great news for investors…not only are banks loaning again, they are loaning at extremely low interest rates. As the saying goes, “a mortgage is the cheapest money you will ever find,” and never has that been more true than now. A better interest rate means better leverage on your dollar, and the end result for you, the investor, is more profit from your real estate investments!
Detroit is a great place to invest in real estate, as housing prices are still very under-valued. Not only can you find cheap houses for sale through RealtyBargain.net, but RealtyBargain.net offers Real Estate Auctions with bids starting at just $1…in other words, all of the auction listings on the website are Absolute Auctions! As for value, it really doesn’t get any better than $1 Starting bid Auctions, and the best news is that anyone can bid! Signing up is easy, and there are no special income or documentation requirements. Live outside the country? No problem! Even foreign bidders can bid on and purchase auction properties through RealtyBargain.net.
You may have known for some time that Detroit has some of the cheapest properties in the country currently. You may have been very eager to buy foreclosures in Detroit, but not sure where to find the deals, or who to contact. Well, look no further! Through RealtyBargain.net’s $1 No Reserve Real Estate Auctions, you’ll find some of the best deals on foreclosures anywhere. RealtyBargain.net make the closing process very easy. All of the deeds to the properties listed are held “in-house,” which makes title searches a breeze. Need a title search? We can recommend preferred title companies, who have years of experience with Detroit foreclosures.
Buy Wholesale Real Estate and Save!
If you are new to real estate investing, there are several different ways to buy investment properties. As far as residential properties are concerned, on the buying side, there are basically two types of real estate purchases: retail and wholesale (such as RealtyBargain.net). Maybe you’ve bought one or more properties in the past as your primary residence. If so, you’ve likely gone through a lengthy process of signing a seemingly endless pile of paperwork, and submitting numerous offers. Then, after all of the counter offers and paperwork are completed, comes the funding. And finally, once the funding has completed, you have finally closed. Sound familiar? That is the retail market. With RealtyBargain.net, the closing process is much easier.
Buying properties wholesale is a bit different then the process described above. Generally, foreclosures are not listed on the MLS, for among other reasons, because they sell so quickly. This can make the deals harder to find. Although you can hire a real estate agent to find foreclosures for you, often investors become frustrated with the results of working with an agent. If the investor does not completely give up on searching for foreclosed properties, they often wind up being persuaded by the agent to buy a property through the MLS instead, thus paying the retail price. To understand why this is, it’s important to realize that there is often very little incentive for real estate agents, when their client’s target properties are foreclosures. There are multiple reasons for this. First, if the selling price is significantly less, then naturally it follows that the real estate agent’s commission will be less. Another reason is that real estate agents themselves are not generally used to presenting foreclosures or auction listings to their clients. Remember, auction listings are often not displayed in the MLS, and therefore this can be a bit out of the realtor’s comfort zone.
When buying foreclosures wholesale, there is far less paperwork to sign, and with RealtyBargain.net, closings can be completed in as little as one day. Because real estate auctions sell for rock-bottom prices (often, for pennies on the dollar), such sales are typically all cash transactions. Although you cannot finance the purchase of foreclosed properties or auctioned properties with mortgages, it is easy to see that the savings more than make up for the “all cash” requirement. What many investors do is purchase foreclosures with cash, and once title has transferred to their name (or their company’s name), they then get a mortgage on the property. Other investors use the property as collateral for a lump sum loan, thus leveraging the equity in the property, and freeing up capital, which can then be used for improvements on the property, or on other investments.
With the recession winding to an end, and the number of foreclosures shrinking nationally, the time to buy is now. RealtyBargain.net makes buying foreclosed properties easy. Take advantage of RealtyBargain.net’s $1 Starting bid Auctions today. Sign up now, and start bidding on real estate auctions on RealtyBargain.net.