Cheap Homes List

Surfing the web one will be staggered by the number of cheap homes list. Cheap homes list are increasing as a fall out from the foreclosure crisis. Increasing number of cheap homes list points to the grim picture of the real estate market.

Cheap homes list is a boon to many who want to buy houses cheap at this point of time when the nation is reeling under the sub-prime crisis. But one should not be content by merely browsing through the cheap homes list because there are many hidden factors. For instance the amount mentioned in cheap homes list belie the actual cost of the house. All these houses have been foreclosed and with the lenders being unable to sell off the units they are willing to sell them relatively cheap. But is the cheap homes list really cheap?

First of all during the housing boom the prices of houses were increased. In recent times these houses are included in cheap homes list but following the false escalation of prices some experts say that the house valuation has found its level – that is the price given in cheap homes list is what it should be.

Secondly most of the houses in the cheap homes list are foreclosed. The occupants have been evicted and as such most probably in their anger they have vandalized the house. Even if they have not, desolate houses are broken into by vagrants who strip the property of anything worth a dime – from plumbing to electric lines and even doors and window. So property noted on cheap homes list may not be all that cheap considering the maintenance cost.
Thirdly while browsing through the cheap homes list it is better to opt for those that the banks have repossessed and selling. Otherwise there is danger of unforeseen liens, unpaid taxes and other dues to the authorities.

The word cheap is relative. In a falling market the units on the cheap homes list may not be cheap in comparison to the prevailing real estate market. Thus the buyer must take all this into consideration before thinking about picking up a bargain. It may not be a big deal after all because why are so many abandoned properties being bulldozed and cleared? Surely the banks know better. There is an adage that one man’s poison may be another man’s meat but it needs tightrope walking to get the right feel about a deal.

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