Today, home foreclosures and short sales are an unhappy fact of life: Approximately one in every 136 homes in the United States are in foreclosure, according to a report by RealtyTrac Inc.
The news is only expected to get worse: With record unemployment, foreclosure filings are expected to hit 3.5 million homes this year, up from more than 2.3 million last year.
The high foreclosure market has lowered property values around the country and ruined the American Dream for millions of homeowners.
But foreclosures don't have to be the final solution for homeowners who have defaulted on their mortgages. If you're a homeowner who needs to sell, but owes more on your home than what it's worth, a short sale may be a good option to salvage your credit and sell your home.
With millions of homeowners defaulting on their mortgages, more real estate investors have discovered that preforeclosed homes for sale are an extremely profitable way to invest in real estate.
While many real estate gurus tout the value of foreclosed homes, preforeclosed homes in the form of short sales offer even greater savings. Short sale properties are properties that are sold for less than the amount the homeowner owes.
Often, due to the extreme decrease in value since the homeowner obtained their mortgage, they owe more than what the home is even worth in today's recessed market, this also due to refinancings and poorly structured mortgages. By investing in a property that has been properly negotiated for a short sale, you can save as much as 70 percent on the homes current market value.
And with the increase of mortgages going into default, the pool of available properties is constantly rising.
We at Dee Tee Investment Properties specialize in short sale negotiations and will guarantee the lowest possible pay off amount on your home. If you are looking to purchase a home and take advantage of this market, than we guarantee the purchase of our negotiated short sale preforeclosures will have an attractively lower price than any already foreclosed
home that is lender owned.