Buying a Foreclosure Home in Huntsville

Foreclosure homes offer remarkable value

There is a saying “You get what you paid for.” However, that isn’t always the case when buying foreclosed properties. It used to be that foreclosed homes were in disrepair and, sometimes, even unlivable. But after the housing bubble burst in the last decade, some of the most attractive and even some “dream homes” fell into foreclosure and now is the time to take advantage of great real estate deals. Results from a recent Keller Williams Distressed Property Buying Survey showed where the opportunities are and how big those opportunities are.

Huntsville foreclosures can be found in every neighborhood

In Huntsville, dozens of people have taken advantage of the amazingly low prices – and the historically low interest rates – to become owners of foreclosed homes. In fact, it’s the first-time buyer who more than likely will buy a foreclosed home as opposed to a homeowner looking to move up or an investor wanting to get into the home rental industry. Locally, foreclosed homes are found in just about every part of town: the Hampton Cove area, southeast Huntsville and Madison. These are high-dollar, multi-bedroom/bathroom homes where the owners just ran into some financial misfortune. And that misfortune can be fortunate for buyers. The best properties go quickly so smart home buyers know they need to team with a local real estate expert. A Keller Williams Realty agent can help buyers look strong to lenders, assess repairs and guide the distressed property sale from contract to close.

Real estate workshops offer buying foreclosure guidance and tips

There is a lot of information out there and major decisions to be made. For that reason, many foreclosed-home buyers have turned to agents at Keller Williams Realty Huntsville and their “Winning with Foreclosures” workshops. At the workshops, attendees will learn that buying a foreclosed property is more like a competition than a regular home purchase. The best properties go quickly so the buyer must be ready to buy and be sure which is the right home for them. They’ll also learn where the properties are and that repairs to a foreclosed home are not necessarily as expensive as they may anticipate. In short, when buying a foreclosed home, you may get more than what you paid for.

Learn more in Keller Williams ebook "Opportunity is Knocking: The Ins and Outs of Buying Distressed Properties." Click to view and download.