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April 08, 2010

Foreclosure Houses

Foreclosure houses are appealing to first time home buyers and real estate investors because they can be purchased below market value. The majority of foreclosure properties sold through public auctions or lending institutions require repairs or renovations. However, most can be transformed into a great residence or investment property.

There are pros and cons to buying foreclosure houses. Individuals who have never purchased real estate through public auctions should take time to learn how the process works. Otherwise, bargain foreclosure properties can quickly turn into money pits.

Real Estate Investing article on "Foreclosure Houses"