Clearwater, Florida is one of the most popular vacation and retirement destinations on the West Coast of Florida. People come here year round and many are moving to the area all the time. New communities are created constantly. You can find quality foreclosed homes in Clearwater, FL for pennies on the dollar at property auctions including government foreclosures. Foreclosure listings can be found online at various foreclosure auction websites. Newspapers also publish foreclosure auctions. There are also good opportunities to find builder closeouts and new home foreclosed properties as well as bank repo properties.
Foreclosure houses and short sales can be found in most neighborhoods of Clearwater. Sellers are extremely motivated to sell their properties and many are under pressure to sell to avoid foreclosure. It has never been a better time to find bank owned and pre-foreclosure properties in the area and surrounding areas. Investors have been flocking to the area for just these reasons. Don’t overlook the luxury home market. There are many good opportunities to pick up Clearwater, FL luxury properties as well. Rental homes and vacation homes are in high demand in the area.
Clearwater offers residents beautiful clean beaches, a quite place to live without traffic congestion, low crime rates, affordable housing and healthcare availability, making it attractive to retirees as well. It is a very popular destination for baby boomers right now. Entrepreneur magazine rated Clearwater as a great place for small businesses. With abundant fishing and over 40 golf courses in the surrounding areas, there is something for everyone. Just a few more reasons why you should invest in Clearwater real estate.
Finding Clearwater REO’s
Sifting through all the foreclosure listings is time consuming so it is a good idea to work with a local Realtor if you are planning on purchasing an REO bank owned property. Clearwater REO’s are listed with Realtors in the area. The Realtor can narrow down your search criteria to find you the right property quicker. After all, time is money and yours is valuable. Bank owned foreclosed homes are good investments in the area right now. The banks have so much inventory that they need to get off their books, you can pick up some bank owned properties below market value. Many are in good condition and don’t need major repairs, while some are major handyman fixers. There is something for every investor right now at all price ranges. If you have cash, all the better since financing is still tough out there. You can also locate REO’s online or by contacting the bank and getting a list of their REO inventory.
Some investors have been teaming up and buying bulk properties or buying notes on defaulted mortgages from banks. That is also another investment strategy that you might want to consider.
Before you invest in any Clearwater, FL property you should have multiple exit strategies in case you are unable to flip the home immediately. Rental properties are always in demand in the area so it may be the best strategy in today’s market for you to hold and lease or lease option. It’s a great time to invest, and you should take advantage of the high inventory, low prices and good interest rates right now. No one can predict how long the market will offer these investment opportunities.