Cheap Foreclosed Homes In California

June 9th, 2006

Cheap Foreclosed Homes In California

Question: Why aren't home buyers buying foreclosed homes in california?

Wouldn't it be cheaper for a potential investor or new home buyer?

I've been browsing a lot of the homes - online in california.

A number of the homes that have been foreclosed on and available on the market seem like great deals. Because the bank only wants what is left on the mortgage to be clean with the home.

The one problem I see with the homes being offered, is the extensive renovations the former resident did with these homes. It seems that someone had a lot of time on their hands and a lot of bad taste. On the outside the houses seem to show promise. But what they did to the house interiors & surrounding property up-grades, were just ugly if at all extraneous wastes of money and materials.
These weren't up-grades, just liabilities. These degrade the property further than improve it.

I'd rather bulldoze an ugly house & re-build from scratch than get someone else's ugly house.

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Answer: We have a buttload of foreclosed houses here in Las Vegas also but most just stand there empty. Pretty soon graffiti on them and holes knocked in the stucco. Home values dropping like a lead balloon. Very sad situation. However, I have to say my daughter and her husband bought a foreclosed house a few months ago. When new this house must have been at least $600,000. Now a couple of years later after the foreclosure it sold for $300,000. I guess it was a 1/2 price sale. It's an awesome house with slate flooring, 4 bd/4ba, loft, 3 car garage, 3800 sq ft and on a big lot in a cul de sac. Hurray for them!