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By Fred Yager
ConsumerAffairs.Com
After years of steadily rising, home prices are starting to come down nationwide, while the foreclosure rate is rising dramatically. Meanwhile, over a million foreclosures are expected to be recorded this year.
That means a would-be homeowner could potentially save even more money by buying a home that's been taken over by a bank or lender seeking to recover money still owed on the property.
According to RealtyTrac, a real estate company that tracks trends including foreclosures, as recently as last year the national average when buying a foreclosure home was about 25 percent below the full market value of a home.
But that average may not be quite as eye-popping this year since many of the new foreclosures stem from problems in the subprime mortgage market. Many people are losing their homes after being hit with a huge jump in monthly payments once initial low interest rates adjusted up, sometimes to double digits.
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Keywords: Foreclosure listings, also provide pre-foreclosures, for sale by owner, bankruptcy homes and foreclosed properties, bank foreclosures, foreclosed homes, foreclosures for sale
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