Over the past few days, I've been doing some research for a client on recent Anne Arundel County (Md.) foreclosure activity. And it occured to me that most homeowners and those interested in investing in real estate are not familiar with the foreclosure process. A basic understanding of the process can dramatically increase the odds of successfully purchasing such properties as an investment, if you are interested in doing so. Money Magazine in 2006 published a wonderful article on the basics of the foreclosure process and the best points to enter the process should you want to try to snag a bargain property. You can find the article here: http://money.cnn.com/2006/09/13/real_estate/foreclosure_archive/index.htm
The main point of the article is that though there currently are a large number of foreclosure properties available, swooping in to get a huge discount is not an easy thing to do. The best bargains usually come in stage 2 -- the auction phase -- but this practice is fraught with difficulties.
For more information on this subject -- and to get a FREE list of foreclosure properties in the Maryland area, contact me at (443) 924-7418.