RealtyStore Reviews California Foreclosures and You Choose the Best Investments

Traditional real estate purchases in Southern California may never again provide the rapid appreciation and return on investment that they did in the mid 2000's. But that's alright. An investment in a home is still a great way to set yourself up for a long term financial gain. And, putting a roof over your head and creating your own lifestyle environment adds a rich value to anyone's personal well being and family harmony. But, it can be hard to make sense out of all the housing information and statistics in the media. How can home buyers today find their way to a smart buy?

One option is to cut into the data available on foreclosure listings. Never before has there been as many bank foreclosures, HUD homes and Fannie Mae foreclosure inventory readily available for purchase. And at tremendous price discounts. Most foreclosed houses, studies show, sell for over 27% below market values. Just check the local news and the few, credible foreclosure listings websites in the internet, and this trend is seen and reported on in markets across the United States.

Still, it appears to be a lot of work to learn about the market and find the best listings of great deals in real estate foreclosures. To do it yourself, you need to gather data and listings from banks, title companies, individual realtor websites, government sponsored websites and even the county courthouse. This can be a cumbersome, time consuming and confusing task. Fortunately there are some valid websites that do this work for you. And here is some important data to consider about California foreclosures.

Foreclosure Pricing for Southern California

Consider the largest population centers in Southern California. There are lots of foreclosed houses for sale to choose from and at very attractive prices. Don't be put off by what looks like a price too good to be true. Investigate any listing to be sure the cheap looking prices might not be hanging on a premium property. It can happen more often than most home shoppers think.

For instance, be sure to look at houses in Los Angeles, Riverside and San Diego county starting at or below $200,000. There are even nice selections in the under $100,000 bracket in these California counties, believe it or not.

It is important to consider the median price range of these foreclosures for sale. This price statistic shows where exactly half of the market is priced. Half higher and half are priced lower. Local data shows Riverside County has foreclosures listed at 17% below the market median with a middle price of $175,000. This means buyers could save thousands of dollars buying a foreclosure instead of a standard home for sale. Shop in San Diego county and find real estate foreclosures priced almost 25% below market median. Imagine saving a quarter of the cost of home. It gets better in Los Angeles where foreclosure listings are at a median price of $254,000 or nearly 27% below the market.

Housing Types and Who Owns Them

The low prices of foreclosures in Southern California are not confined to small condos. These prices are available on detached, single family residences (SFRs) as well as townhouses and condos. Recent trends also find a blend of older and new homes in foreclosure. Some include upgraded interiors, others will need some rework or rehab. But overall, there is no reason to think a foreclosure might not be able to meet the needs of a homebuyer in terms of type and condition.

To find the best investment, consider all types of sellers, including both government agencies and banks. Government owners of HUD homes and Fannie Mae foreclosure property are as motivated as banks are to offload their inventory and sell homes quickly. That can mean government homes are priced at even more attractive levels than bank foreclosures. But banks control most of the market and it's not unusual to see the largest selection in any of the Southern California counties offered by bank owners.

Foreclosure Counts for Southern California

Reports show more than 30,000 fully foreclosed, REO properties are for sale in LA County, Riverside and San Diego County. L.A. leads the group with banks selling over st 5,000 REOs. Further inland are more than 3,000 bank foreclosures for sale in Riverside. Down south, San Diego gives over 2,000 with some gems to be found both at the bottom and top of the market. Look at the ocean view homes that sold for huge dollars now available for thousands of dollars less.

Tracking Foreclosure Trends

Before making a move into the market, spend some time tracking local foreclosure trends and get a feel for how pricing and sales rates are behaving. Don't get caught rushing a deal or overpaying just because more education could have saved big dollars. Check credible website market reports to see how things stack up in one area versus another. Among the few sources of good information out there, RealtyStore has been around for a while. Data from this site was used in and for basis of this article. Click RealtyStore Reviews for more customer feedback. Check market data on their Foreclosure Trends page.