A Home Inspector’s Weblog by Frank Schulte-Ladbeck

exploring homes and the lives in them around Houston

Posing a Question about Foreclosures

During this past week, I seem to have been writing a lot about this topic on different sites. Mainly people have been asking me to write on this subject, or I have been getting calls with questions. In a way, I am tired of writing or hearing about foreclosures, but I feel that I should divulge what I know. However, I realized something after inspecting a foreclosure the other day, much of my business of late is investigating the condition of these properties. I know that statistically that the number of homes for sale cannot be mainly foreclosures, but my business has been clients asking for inspections of foreclosed homes. I have not been able to find a number for this, and it might be that it is not recorded, but a question occurred to me: What percentage of the homes sold in any area are foreclosures, comparing that to the number of homes for sale that are not?

My business of late would indicate that there are many of you hunting for bargains, and you are finding it with these homes. I wonder if that fact is true. I would be curious to know. If anybody has some data on this, could you let me know.

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2 Comments»

  Catherine wrote @

I work at CurrentForeclosures.com a foreclosures site. I agree that there is always a big probability of finding a good deal among foreclosed properties. But it is prudent to look around and make researches in the desired area before considering buying a foreclosed house. There are foreclosures site which offer tips and news info to better guide potential buyers.

  frankschulteladbeck wrote @

Thank you for your comment. I do feel that anyone looking into these properties should find as much information possible about a home before their purchase. I should mention the other articles that I have written appear on the InvestorNation Blog, which deals with some things you might see in a foreclosed home, and then I have touched on the subject on the community blog for HoustonTexasRealEstate.com, but there are many discussions and advice on this subject at the moment.


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