Foreclosures, Bank Owned, REO's, Short Sales...A Buyer's Bonanza!

 Sacramento Real Estate Foreclosures for sale               Sacramento Bank Owned Real Estate for Sale

Sacramento's inventory of foreclosed and bank owned properties is one of the highest in the nation. Distressed pricing has created a Buyer's Bonanza of opportunities for those who are able to navigate through the maze of this non-traditional real estate sub market.  Never in Sacramento's recent history has there been such a wide and varied inventory of these homes. While prices can be well below market value there are risks and hidden problems that a buyer must be willing to accept if  a foreclosure is being considered. Here are recent trend graphs to give the prospective buyer a look at where we have been.

 

Not all bank owned properties are created equal!!  Sacramento's foreclosure inventory consists of everything from fixers, requiring substantial  maintenance, and repairs to updated homes in excellent move-in condition.  Keep in mind that while prices are very attractive on foreclosed properties, there are risks that buyer's need to be aware of. "As is" means just that. You get what you see when you view the property and what you don't see. Be prepared to pay for any problems such as electrical or plumbing repairs, leaky roofs, pest issues, or even vandalism by angry homeowners. Keep in mind that homeowners who couldn't afford the loan in the first place, probably couldn't afford to maintain the home either. Other issues include "clear" title considerations, liens, and other encumbrances that you, the buyer, will have to account for upon any resulting purchase. The key is to be able to find a property that fits within a buyer's criteria, and make a reasonable offer that a bank is willing to accept and the buyer's willing to afford. It's not quite as easy as it appears.

 

As your Lyon Real Estate agent, I have access to a group of trained specialists who make buying a foreclosed property almost as easy as buying a traditional owner occupied property.  Lyon Real Estate negotiates directly with the bank. You know your upfront risks, and what it will take to purchase the property. We navigate through all the issues involved with the property, and give you a clear picture of what you're buying.

If you are looking at buying a foreclosure, listed below are some links to various foreclosed properties on the market today. There are foreclosures listed throughout the county. Just a couple of areas are listed below: