Foreclosure List
Buying a foreclosure is a hot topic these days because many regions of the country are currently experiencing a rise in foreclosure rates. Although not as severe, Central Texas has seen a similar rise in foreclosures. The truth is that real estate markets around the country have undergone a fundamental change. At Market Point Reality Services our experience in Austin, Texas real estate will allow you to confidently explore the many options in this constantly changing market. Our experienced and professional agents are ready to assist you by providing all of the information and insight that you will need in order to make an accurate and informed decision about your new property, including your FREE Foreclosure List!!!
A Foreclosure occurs when a homeowner misses his or her payments and defaults on the mortgage. Property in foreclosure is often referred to as “distressed” because the owner is in financial distress and is behind on his or her payments. The owner’s financial distress can be caused by a variety of unfortunate circumstances. This often results in a buying opportunity for a well-informed homebuyer or investor, who can actually help the homeowner avoid serious credit problems.
REO stands for Real Estate Owned (by the Bank). REO properties are another great opportunity to purchase foreclosures. The REO stage is the process after the auction, when the lender is either the successful bidder or there are no bids at all. In either case, the bank becomes the legal property owner and the property is considered a “non-performing asset” of the bank, which is a fancy way of saying the bank doesn’t want to hold on to the property. This results in a solid buying opportunity for you, the homebuyer.
Contact Market Point Reality Services today and we can begin to explore your many buying opportunities in this unusual market. Our foreclosure experts can guide you through every facet of the Central Texas real estate market.
