Buy a Foreclosed Home & Save Big
Many of my friends will be relocating over the summer. They’re in the market for new homes, so when I was asked to review this Foreclosure Listings search engine I thought it might come in handy. To use the Bank Foreclosures search engine, just visit the website and type in the city and state you are moving to and you will receive a list of foreclosed homes. Even though you won’t get a brand new home, many of them are like new — but you don’t get those brand new prices.
Believe it or not, I found six listings for right here in Friday Harbor, WA. and the prices almost blew me away! I found a 1,264 square foot, 2 bedroom 2 bathroom home on a 25000 ft (approx. one-half acre) lot for less than $200,00.00!
Stats and photos are available for each home. The ForeclosurePatch also provides a large selection of instructional articles about how to buy a foreclosed home. Further information on affordable housing options is also available.
16 Comments
We thought about looking at some of these but we decided we would feel guilty buying a house that someone lost to foreclosure.
Nessa — that thought crossed my mind, but they lot the home long before I came into the picture.
I wouldn’t feel guilty. It does no one any good to let a house go to waste. I just don’t need another house.
Very interesting information.
Good point, TLP.
Thanks, TLP. I wish you had visited a more interesting post though!
Hi TLP — Don’t listen to Quilly. Her posts are always interesting.
Karen — thank you. I’ve blogged on this particular subject so many times, I don’t know why anyone read this post, let alone commented on it. I figured you were all just being kind.
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That’s a nice site, Quilly. I take it you ‘joined.’ I tried it out on our town, Montgomery, Texas. There were 88 listed. Then more nine miles away, and so on for a total of “4,869 Listings Found.”
I had to join to find more info about a nice condo that probably looks out on the lake. No price stated for this one either.
It might also be a good place to find a vacation ‘shared by family’ home in a cooler place than Southeast Texas. Like Colorado or Hawaii or Oregon or Washington or Maine.
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Jim — you know what they say about folks who “assume”. “Quilly” didn’t join. She doesn’t care for the junk mail that follows such ventures. Quilly has an alter-ego with an email address.
Hi: We took possession of the house you’ve described this morning. It was a rental/investment property owned by a man in California. It went back to the bank last year and we were lucky enough to get it. We have a lot of work to do on the place before we move in. About foreclosures, I feel the same way as you, Nessa. I don’t want to get something due to someone’s misfortune. But, it was not a family home and hadn’t been rented in a year or so. By the way, we paid $179,000. I think we now hold the record for the cheapest stick built house on the island since 2003, or so I’ve been told. (we also got 4.5% interest on our mortgage)
Congrats on your new home, Joy! I wish you many happy years in what looks like a lovely place.
Thanks! We ripped up the carpet in the living room today to show off the lovely wood floors. The roofer comes tomorrow to put on a new metal roof! Then the gutter guy follows!! We hope to move in sometime this fall. I did want to mention that the place on Cougar Drive has been sold. Maybe the one on Point Caution is in the process of selling, too. Sometimes those foreclosure sites have older listings.
since I just went through all the home buying hoops, my realtor did have a few pointers for being cautious about foreclosed homes. Many of them have a ‘buy sight unseen’ clause. Meaning you can only view them from the street and can not go inside. Your literally buying with fingers crossed that your going to only face cosmetic damage when you finally get to check it out. But that’s the toss up you make with many of these homes because of the significantly reduced price to buy one that’s being foreclosed on.
Tina — Joy (above) told me that Foreclosure listings on websites are almost always out of date. Lovely.
My husband sent me a link to a foreclosed home on Wednesday: $179,000.00 for a 4 bed/4bath home on 1.58 acres near Spokane. We’ve obviously sheltered out kids, because the 19yo saw the first 4 pics (orange carpet, large fountain in the middle of the house) and stated that he would change his name if we moved there… and he hadn’t yet seen the red heart-shaped bathtub!
Reading the comments from this post, was just fun. 🙂
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