Buying a Foreclosure In Today's Home Market

It is always good to try and get the best deal for your money. Buying foreclosures means that you are getting a great deal, usually at a really low price. This way you can save a lot of money just by buying property. While this is essentially true, there also some potential downsides to the whole deal. So, there are good sides and bad sides of the deal, so you should think about them first before buying foreclosed property. Buying a foreclosure does include some risks, and disadvantages, but most of the times it’s worth it.


Advantages:
The most obvious advantage of buying foreclosures is the low price. This means that you can buy more property for your money, or you can repurpose your money (spend more money on remodeling the house for example). That’s because foreclosures are most commonly priced below the market value. The prices are that low because the financial institutions that take over foreclosures want the property sold as fast as possible. This way more buyers show their interest, and the companies selling the foreclosures get a greater number of offers.

First-time home buyers can benefit a lot from buying a foreclosed home. The main reasons for this are the lower down payments. The down payment may act as a great obstacle when you’re buying your first home, but since foreclosures have lower price tags, they also require a lower down payment. And since the down payment is usually 10-20 percent of the home purchase price, it can mean a lot to the buyers.

Buying a foreclosed property can give the buyer the opportunity to move to a nice, high-priced neighborhood. Instead of buying a small house in a good neighborhood, the buyers have the chance to buy a larger, more comfortable house. This is very practical for families with kids. On the other hand, if you buy a cheaper house in a wealthier neighborhood, you can make some profit by selling it a few years later, when its value (sometimes even dramatically) rises.


Disadvantages:
When buying a foreclosed property, you will have to face some time-wasting procedures, which will probably get on your nerves. Unlike traditional property purchases, you have to follow specific procedures and go through some tiring “obstacles” which can sometimes catch you unprepared.
Also, when you are buying the property at an auction, you must have the money to pay the down payment (usually 10-20%). You must also be prepared to show a proof that you have the money, or you won’t be able to buy the property, even if you were the highest bidder.

However, some risks that a foreclosure purchase carries can be quite more annoying and disappointing than the procedure itself.
The purchase of a foreclosure often brings a lot of hidden taxes that you will have to pay before you take ownership of the property. Sometimes, buying the property at a lower price will not pay off in the end. This means that there is a chance that you would have to pay more than just the price of the property.
The biggest risk, that can probably cause the most worries, is that you buy the house “as-is”. You will have to fix the damages on your own, and pay for the repairs out of your own pocket. If you are unlucky, it can cost you a lot more than you can handle, so you need to be careful not to get into a mess like that. That kind of event can extinguish the enthusiasm you had when you were buying the property.

The saddest and most unwanted event that could happen to you after the purchase of a foreclosed property, would happen if the previous owners ever came back to try to claim their right to the property. Even though you can solve this problem, you can have a hard time getting them off your property. This can upset you and your family, as it’s a difficult, emotional, and nerve-wrecking event.

There are some great foreclosed homes for sale in Chattanooga, as well as foreclosed homes for sale in Salt Lake City Utah, and Tennessee foreclosures all around, but don't forget Ogden homes and Sandy homes and Draper Utah Homes with the potential of a great deal for a foreclosure as well.

Searching for a Utah Homes? Begin your search below:

Did Your Home Not Sell?

Do you have a home for sale in the Utah Real Estate market? Has it not sold yet? You may be asking why?

While there are many different reasons for a home not selling, there are two that stand out the most.

The first one is price. Are you priced too high? The second one is related to your agent. Did your agent not properly market your home to potential buyers?

It seems now days that there is a growing number of agents that are trying to earn more for less. Their whole listing presentation is centered around doing less. No ads in the paper, flyers, internet ads, no open houses, and ect.

Guess what? That is how homes sell! You don't just throw it up on the Utah MLS and cross your fingers like most agents do now days. It's our job as an agent to be top notch marketers and to get your home out there for everyone to see.

Don't settle for paying a high commission to an agent that is going to simply throw your home on the MLS and beat you up on price.

If you would like to sit down and review my comprehensive marketing plan to get your home sold please call, text, or email me anytime day or night. JustinRobins@UtahHomesToGo.com or 801-499-0214

2013 Projected Utah Homes For Sale

Happy New Year! I figured I'd better post to ring in the new year for 2013.

A lot is going on with the Utah Housing Market and most of it is positive. Rates are still incredibly low and home loans are getting easier to obtain.

Now for the bad news...prices are rising due to lack of inventory that is out there. Homes are getting multiple offers and to be honest with you the homes on the market aren't even that great

I think you will see a lack of homes until prices get high enough that some of the homeowners that are under water on their mortgages can break even.

Either way with interest rates as low as they are I think now would be a great time to buy a home for sale in Utah. Even if it isn't quite what you want there is a lot of room to be able to make it the home you want!

Call, text, or email me at anytime to discuss your options! Justin Robins 801-499-0214 or JustinRobins@UtahHomesToGo.com

Utah Home Prices On The Rise? | RealtyStore

Utah Home Prices On The Rise? | RealtyStore

Here is a great article that I wrote on another blog. It has some great insight into today's Utah Real Estate market. Even if you aren't planning on buying a home in the near future it would be of great help to read this article. Happy house hunting!

2012 Utah Real Estate and Housing Market

With the new year here it is time to get back on the horse and find that dream home you have always wanted! Interest rates are back down as low as 3.75% fixed for 30 year on some days with most days being 4% fixed 30 year.

Having a good loan officer on your side is extremely important for grabbing the absolute lowest possible rate. They can watch the market and call you the minute they see a drop and lock you in. I use Summit Lending for all my mortgage needs. They have many great experienced loan officers willing to save you time and money! Call them today! Summit Lending 801-643-9419

Last but not least...your Utah home search! UtahHomesToGo.com is the premier choice for your home search. They are among the top 5 Utah home searches listed on google for the term "Utah Real Estate"," Utah Homes For Sale", "Clearfield Utah Homes", and many other key search terms.

UtahHomesToGo.com offers a great user experience, ability to map, save, and signup for new listings/price reduction alerts. All for free. They also have a team of experienced agents from Logan Utah to St. George Utah.

The real estate agents that work with UtahHomesToGo.com are not your typical Utah Real Estate agents. They have been hand selected by Justin Robins owner of UtahHomesToGo.com for their integrity, customer service, and great work ethic!

With home prices on the rise, but still at an all time low and interest rates at rock bottom there truly has never been a better time than now to buy a new home!

P.S.
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Utah ranked No. 1 for business again | ksl.com

This article just shows why Utah has a strong economy and housing market. We continue to beat the odds and our housing market is just as strong! Now truly is the time to buy a piece of the American dream and a piece of Utah Real Estate!

Utah ranked No. 1 for business again | ksl.com

Proven methods can help owners sell homes, even in struggling market | ksl.com

Proven methods can help owners sell homes, even in struggling market | ksl.com

This is a great article for anyone that is selling their home or even thinking about selling now or in the near future. Though I have to admit that Utah Real Estate is looking to be in a lot better condition than most of the nation. This year has been one of the best years I have seen in the last 5 years since the housing crisis. I look forward to spring and have high hopes that it will be even better than this year for Utah Homes For Sale.