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Types of Homes for Sale

When looking at homes for sale, there are many options to consider. Are you looking for single family residence home or multi-family real estate such as a duplex or apartment building? Are you looking for a fixer-upper home or a brand new home that requires no additional work?

Many homes for sale are being offered as FSBO (For Sale by Owner), which may or may not be the best choice for you. Others are offered as REO (real estate owned) foreclosure homes, while other homes for sale are offered directly through a real estate agent.

As you can see, there are many variables to consider when researching homes for sale. Although, the current real estate market is shaky, there are still numerous deals to be found. There are literally millions of single dwelling homes for sale across the United States. Many of these homes are selling under market value and make for an excellent first or second home investment.

Before you invest in any home for sale, create a checklist that includes:

  • how much you can afford

  • how much money you can use toward the down payment

  • type of home you want to buy; i.e.; - new, used, fixer-upper, single family or multi-family

  • areas where you wish to reside or invest in rental property

After determining how much you want to spend (and what you can afford), conduct research via the Internet, by browsing Homes for Sale magazines or by contacting a real estate agent in the area where you want to invest in real estate property.

If you have never purchased a home, it's best to use the services of a realtor. They can help guide you through the process and help you avoid costly mistakes. If you have real estate knowledge, consider purchasing a home for sale by owner. If you have time to invest in fixing up a distressed property, an REO property has the potential to yield a nice return on your investment.

Although the real estate market is currently on a downhill slide, history shows that real estate is still the best investment you can make. Take time to do your homework and you could build a substantial nest egg for your future!

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Published on March 03, 2008 at 07:46 AM

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