The frequent real estate listings auctions taking place in Tucson, about 100 km north of the US-Mexico border, have added pep to its real estate sector. Tucson is located in the Pima County in the US state of Arizona. Relocating to this thriving 32nd largest city and 52nd largest metropolitan area in the US would make an excellent choice. Tucson is also home to the world-famous University of Arizona. Major incorporated suburbs of Tucson include Marana and Oro Valley. Other places in the immediate vicinity of Tucson, from where residents are also making a beeline for the property auctions, include Green Valley, Catalina, Flowing Wells, Catalina Foothills, Tanque Verde, Vail, Casas Adobes and New Pascua.
Property Auctions: Incentives & Choices
What makes the foreclosure auctions so attractive to prospective buyers across the entire income spectrum? The reasons for this are not far to seek. The various government bodies and banks, which are in possession of a plethora of foreclosed homes, offer them at invitingly reduced listed prices to the citizens. The luxurious mansions at throw-away prices naturally induce buyers to bid for them at the property auctions. Even the immediate cash required for making the 10%-to-20% down payment upon a deal getting finalized has ceased to pose any problem, with finance readily forthcoming from umpteen mortgage companies in the fray as well. The government foreclosures have thus emerged as a universally winning proposition for all the participants in the show.
You have several sequential buying options available to you. You may seek to purchase a home involved in the government foreclosures directly from the owner. The owner would be anxious to get rid of the house to settle the amount outstanding on her mortgage. Or, you might participate at the actual foreclosure auctions, preferably with assistance from a seasoned real estate agent. However, there are also many homes that do not get sold at the property auctions. Such properties then revert to the original moneylenders along with their titles. You may approach these authorities and attempt to buy one or more of the foreclosed homes from them.
Government Foreclosures: A Million-faced Opportunity
An informed player is naturally better positioned and able to secure his interests at the real estate. So, you must regularly read the newspapers and updates posted by several websites pertaining to the government foreclosures in Tucson. Getting professional help from the likes of Kelley Koehler and Mike Ebert, prominent real estate agents operating in Tucson, would be vital to your eventual success. Chalk out an insightful and practical strategy in tandem with her, and follow it scrupulously. You should also get experts to survey and inspect the houses that you plan to bid for at the auctions, besides making your own personal site visits.
You cannot afford to ignore this million-strong business opportunity knocking at your door; there are over a million foreclosure auctions scheduled to be conducted all across the US in the near future. Bank foreclosures, in particular, are regarded by analysts to be currently a far better investment option than even stocks and bonds. However, remember that an opportunity can be converted into your success and profit only if the right and adequate preparations and efforts precede it, and you better begin these right now.
