Is now a good time to get into foreclosures?

Asked by April, Potomac, MD Thu Mar 27, 2008

On a seperate question a realtor said the following.

"If you don't mind, I would like for you to contact me and tell me why you want to get into foreclosures right now anyway. Personally I don't think this is a good idea and I'll explain why. But I wont do it here and now because it was not asked." Answered by Khazeem Asad… Real Estate Pro in Dallas…

Hoping Khazeem will answer here and anyone else who has opinions on this.

I was acutally looking to buy in the foreclosed market. Help me see the pro's and con's and what you think. Thanks

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Hi, , Virginia
Thu Mar 27, 2008
wait for prices to drop
maybe 2009-2010
when the market is really desperate for buyers
the banks don't want houses
they want money
but they want what is owed
they don't want to lose more money
but as more houses come up for sale
there is more competetition
and this drives the price down

always look to see what is happening
you will see the prices coming down
there are many reo sites out there
google "REO"


good luck
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