Recently, the average rate for a 30-year, fixed mortgage fell below 4% for the first time in three years, encouraging potential home buyers who are searching for a new home. Not only are many properties selling quickly — almost half sold in less than one month — but many buyers are also looking for ways to save on their home purchases. Some people examine listings of homes in foreclosure, looking to buy a new home for a few thousand dollars.
Extensive listings of homes in foreclosure can often be found on the internet. About nine out of 10 potential home buyers report looking online for listings. Most end up buying a home that is about 2,000 square feet, built in the last 25 years, with three bedrooms and two bathrooms. If they finance the cost of purchase, they typically put down a 10% d (more…)
29 Sep 2015