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BUY NOW or WAIT for FORECLOSURES in 2022? | Buying a Home in Austin

In this video, I discuss buying foreclosure homes and whether they are worth it.

Craig Smyser, 1835 Realty
📲 512-650-7300 ⠀
📩[email protected]
https://www.RealEstateInAustin.com

Buyers often tell me they want to buy a foreclosure. Most people think that means they will get a great deal on a foreclosure home, but I’m here to bust that myth. I listed and sold foreclosures for HUD during the Great Recession during which time I often said “Not all foreclosures are good deals and not all good deals are foreclosures.” That saying is still true today. While foreclosures often sell under median prices, it’s because many are in sub-par condition for one reason or another. Taking condition into account, the prices are not what most would consider “a good deal.” Yes, they cost less, but that’s because they are worth less. Now, buying on the courthouse steps is different, but few people are able to do that and it’s really a separate topic for a different day. Good deals exist in circumstances outside of foreclosures, so I recommend keeping your options open – especially in today’s market where they are few and far between.

#foreclosures2022 #austinhomes #austinrealestate