http://investors4realestate.com/how-to-buy-foreclosed-homes/- How To Buy a Foreclosed Home

I have spent the past two years focusing on purchasing as many foreclosed homes as I could.  Along the way I have learned what works and what does not work.  I have come across many myths and false beliefs.

During this short four minute video I am going to share with you the most important lessons I have learned in regards to buying a bank foreclosure. If I were to have known these when I first started I would have made thousands of dollars more.

The very first thing you should do is sit down and decide exactly what your dream foreclosed home would be.  Break it down as specific as you possibly can. Start by answering the following questions.

Bed and baths.
Square footage.
The size of your yard.
You should have a specific location defined.  An area where you want to live.  Make sure you are willing to live in that area.  Do not set an area and change your mind, make it exact.  Take into consideration work, super markets, parks, schools, entertainment and other factors such as crime.
How updated the house is.  How new are the windows, how new are the bathrooms and kitchen.  If you want them to be new with in the last 10 years or so I would suggest the you either buy a new house or plan on having them redone.
The age of the house.
Anything else that you can think of which would make an ideal house for you.
Rate of return you are looking to get if this house is an investment.

Next find out how much you can spend on the foreclosure.  

Speak to a mortgage broker and get a pre-approval letter.  
Look at your finances and determine how much you can spend monthly.  
If you’re an investor decide how much you can invest.

Once you have your ideal house created in your mind and on paper.  Find a real estate agent or get access to the local MLS.  Set up an automated search function and have it alert you whenever one of these homes becomes available.  Find out how much the banks are willing to negotiate on the price and at what point do the get desperate.  In my area unless it has been on the market for a couple of months, the banks will not go more than 5% away from the asking price.

Next we are going to look at the mind tricks the banks use to get you paying more for a foreclosure.

Banks have all kinds of rules and regulations restricting people from getting a house in the first month or so of its listing.  They do this to build the illusion of scarcity.  Many people fall for this. Don’t let them trick you, know there are plenty homes.

It causes people to grossly over pay for foreclosures. The banks love it. So they do everything they can to get you emotionally involved and over pay for a given house.

http://www.youtube.com/watch?v=oDObtnOm75k

Duration : 0:2:13

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Technorati Tags: bank, buying, Estate, finance, for, foreclosed, foreclosure, foreclosures, home, homes, house, housing, how, owned, purchase, Real, real estate, realty, REO, residential, sale, short

Success stories abound for people purchasing bank foreclosures in Hudsonville, Michigan. My name is Gary L. Bolte and I have a team of expects that will help you locate, negotiate purchase prices and coordinate every related aspect of purchasing a bank foreclosure in Hudsonville, Michigan from legal to construction services. Find out what others have already discovered, that Hudsonville, Michigan is not only considered one of the best areas to raise a family, but offers possibly the best area to buy bank foreclosures. The current real estate market provides buyers with opportunities in bank foreclosure in Hudsonville Michigan that have not been seen before, and most agents understand bank foreclosures in Hudsonville, MI are prime target for first time home buyers. Please call me at 616-676-3626 or e-mail me at gbolte4@comcast.net for free information about bank foreclosures in Hudsonville Michigan, and I will explain why purchasing a bank foreclosure home in Hudsonville, MI is an opportunity you don’t want to miss.

Duration : 0:1:8

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Technorati Tags: bank, foreclosures, Hudsonville, Michigan

OccupyMN may be moving in next door to you.

Nick Espinosa, one of the OccupyMN organizers, says the group is considering going to occupy foreclosed homes when inevitable snows begin to fall in Minneapolis. The group has been blessed with relatively mild October weather while it has camped out in The People’s Plaza, also known as Hennepin County Government Center plaza.

Beyond preventing hypothermia, the move would also draw attention to one of the primary reasons the group of 100 or so people have been in the plaza for two weeks –the need to put a moratorium on home foreclosures. Some 29,000 homes in Minnesota are now in foreclosure process.

A foreclosure moratorium is one of the specific demands the group has made so far. Nationally the movement has changed the conversation about rich and poor and forced the media to write more about the disparity between the richest 1% of Americans and all others.

A few days ago, seven protestors were arrested for blocking an intersection in downtown Minneapolis. Espinosa sees this as but one tool to help accomplish goals. He said that rallies, protests and marches haven’t produced results so they will try a number of approaches.

Espinosa has participated in a number of high profile protests including a bag of pennies for gubernatorial candidate Tom Emmer and glitter for Newt Gingrich and the Marcus Bachmann clinic.

The general assembly for operation is puzzling to many. It’s a consensus approach rather than a typical Robert’s Rules of Order approach. About 100 people have been sleeping over in the park south of the building and about the same number have been participating in the daily general assembly

Duration : 0:3:24

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Technorati Tags: arrests for protests, banks, civil disobedience, foreclosures, minnesota, occupy wall street, occupymn, ows

When buying a foreclosed home, find a real estate agent familiar with foreclosures and be prepared with an approved mortgage loan. Understand that a foreclosed home is owned by the bank and will not be repaired before the purchase with tips from a real estate broker in this free video on house financing.

Expert: Penny Smith
Contact: www.liveoakgroup.com
Bio: Penny Smith has been in real estate for more than 14 years.
Filmmaker: Reel Media LLC

Duration : 0:1:56

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Technorati Tags: buying homes, foreclosures, investment property, real estate, real estate finance, real estate tips

www.GetOnTheListNow.com – this real estate propety was bought as an investment and fixed up so that it is like new. Check out our website for other homes like this.

Duration : 0:2:17

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Technorati Tags: contract, Estate, financing, foreclosures, land, Michigan, Real, Seller