Diverse Choices at Customary Prices
The Inglewood foreclosure auctions presently offer intending homebuyers a mesmerizing choice of 572 foreclosure listings and properties. These bear the median listed price of $337,948. The 208 other FSBO and MLS property choices included among the Inglewood real estate listings auctions come at a median asking price of $325,000. It seems anomalous that the foreclosed houses are actually listed at a median price slightly higher than the one for the other properties governed by the usual market prices. Local market factors must account for this, because as a rule, the seized homes are selling all over the US at discounts of between 10 percent and 50 percent over market prices.
Inglewood is a city located in southwestern Los Angeles County, in the US state of California. Among the cities that Inglewood counts as its suburbs are West Hollywood, Arcadia, West Covina, Azusa, Torrance, Baldwin Park, Temple City, Bell Gardens, Beverly Hills, Sierra Madre, Cerritos, San Marino, Claremont, San Gabriel, Diamond Bar, Pomona, El Monte, Pasadena, Hawthorne, Monrovia, Huntington Park, Los Angeles, La Habra Heights, Long Beach, La Puente, Lawndale, La Verne, Lancaster and Lakewood.
Additionally, Inglewood’s suburbs also include Antelope Acres, Big Pines, Del Valle, Citrus, Florence-Graham, Vincent, Lennox, Hacienda Heights, Quartz Hill, Littlerock, Topanga, Rowland Heights, Val Verde, Willowbrook and Westmont.
Millions of Government Foreclosures Nationwide
The subprime mortgage crisis in the US has led to millions of government foreclosures in the last few years. This has caused considerable agony and distress to the dispossessed homeowners. The major plunge in the housing sector has caused a setback to the entire US economy by inviting bailout economic packages involving hundreds of billions of dollars. Besides, the reverberations of this spate of government foreclosures have played havoc with stock markets worldwide in a domino effect.
However, one person’s gloom is another’s joy. So, while the defaulting homeowners have lost their houses to the lenders, buyers have been enabled the rare chance to acquire gorgeous residences at a fraction of their prices at the foreclosure auctions in all US cities and towns. The foreclosing agencies like VA, HUD, Fannie Mae, Freddie Mac or banks are keen to convert their REOs or real estate owned into liquid cash. Moreover, they seek through the property auctions merely the recovery of the pending loan amounts towards each seized house. Thus, the properties are listed at prices way below their typical market prices. The potential homebuyers have naturally sought to utilize the foreclosure auctions as an opportunity to buy the dream homes they had always wanted but couldn’t afford.
Inglewood has its share of property brokers to facilitate house transactions at the real estate listings auctions. Euene Okeke, Frank Wilson, Eric Sosa, Sheila Mc Daniel and Glenda Brass rank among the more successful and influential brokers in the city. Hiring an expert agent to guide you through the various investment decisions involved is the best start a buyer can make in her home search.