4,000 Foreclosed Homes in the U.S. Sold for Under $1,000 in 2006

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4,000 Foreclosed Homes in the U.S. Sold for Under $1,000 in 2006

May 16, 2007 at 1:28 pm | In Foreclosures, House Flipping, Real Estate Investing | 7 Comments

I just read a rather encouraging article on ForeclosureFetcher.com that pointed out some of the incredibly low prices on foreclosed houses throughout the nation. After checking out some of the foreclosure listings under 5K mentioned in this article I was able to turn a handsome profit on a foreclosed home in Macon, GA I purchased for just $4,900. In this foreclosure flippers humble opinion, you really can’t go wrong with buying anything under 5K. Here is the link to this article. Check it out and see for yourself. http://www.foreclosurefetcher.com/foreclosure-info/Houses-for-sale-for-$5,000-or-less-across-America

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I work for http://www.CurrentForeclosures.com , a foreclosures site, and we have noticed a huge increase in the number of foreclosures across the country. We have also had an increase in the number of foreclosures selling for under $10,000 on our site, and I believe we will see more until the market bottoms out.

Comment by TSmith — July 5, 2007 #
That is encouraging, but I am still waiting for the deals out here in California!

Comment by Robert Mandrake — July 31, 2007 #
There are even more scary mortgage foreclosure statistics which means they’ll be plenty more discounted homes on the market soon. Although if banks are only getting 5K per house they may not auction them off now let them sit on their books at higher book value.

Comment by Foreclosure Alternatives — November 25, 2007 #
I wanted you to get to see this marketing system.
http://cftreasures.wordpress.com/2008/02/29/its-leap-day-take-a-leap-into-a-lot-more-cash-flow/

Comment by Steve Burns — March 1, 2008 #
As a West Toronto Realtor, I’m observing the situation on the U.S. real estate market and have read many articles about thousands of families facing foreclosures.

I’m really sorry for that people losing their homes, but on the other site, everyone should be responsible for their bad decisions. And buying a house you cannot afford, is in my opinion a bad decision. On the other site, this people are helping other peoples, who waited for the right moment and bought a house in a auction for a very low price.

Comment by West Toronto Realtor — March 5, 2008 #
So, what are the numbers now for foreclosure homes selling below $1000? Most likely, there is a dramatic increase.

Comment by Eli — July 5, 2008 #
Greetings all members,

I would just like to say hello and let you know that I’m happy to be a member – been a lurker long enough

Hope to contribute some and gain some knowledge along the way….

Comment by FinancialServicesRenoNV — March 28, 2009 #