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Foreclosure In California Article
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The Quality of the Neighborhood is an Important consideration when Purchasing a Foreclosure Home
from:When you are prospecting for a foreclosure, home the neighborhood should be taken into consideration. We all want to have a great home, but the neighborhood also plays a big part in the value of the foreclosure home purchase.
Investigate the area:
• What is the surrounding property like? Is it well kept or rundown? Is it a residential area exclusive to homeowners or is there a mixture of homes and rental units sandwiched together?
• Is the community stagnant, deteriorating, or being built up?
• Is there commercial property in the area? Are their retail stores and grocery chains either already in the neighborhood are considering coming into it?
• Will you have easy access to retail outlets without having to use your car each time you need a loaf of bread or and gallon of milk?
• Do you have access to buses and taxis, trains, subways or other public transportation?
• How many for sale and for rent signs are visible? From a foreclosure home purchase standpoint, it is always a more lucrative investment if there are more homeowners than renters or tenants in the immediate area. Property values are higher in an area that caters to homeowners.
• Not only is it important to consider the condition and age of the foreclosure home you are considering, it is also important to look at the age and maintenance level of all the homes in the area.
• Similarly, consider the age and quality of the cars in the area as well as the city maintenance of the roads and streets. Are there quiet residential streets or busy thoroughfares?
• Are the sidewalks clean and litter free, is there a good quality trash collection system, are the public parks well maintained?
• Are there community centers, schools, training centers, career opportunities in the area or close to the area in which you would like to buy foreclosure home?
• How good are the schools rated in the area?
• Consider the noise factor if you will purchase a foreclosure home in the vicinity of a industrial park, opposite an elementary or high school, or within the downtown core where there is traffic congestion, night clubs and various other night life activity.
• What is the level of security in the area? Are there hospitals, clinics, fire stations, and police stations? Is there a neighborhood watch?
• What is the crime rate in the area?
As you can see from the details provided above that purchasing a foreclosure home is more than merely living in a home, it is a community investment. For more tips on community living click on the site U.S. Department of Housing and Urban Development
Foreclosure In California Specific links
Foreclosure In California News
Foreclosure-prevention efforts face obstacles in Sacramento - Los Angeles Times
 Daily Beast | Foreclosure-prevention efforts face obstacles in Sacramento Los Angeles Times A legislative panel called to rescue two stalled foreclosure-prevention bills is bogged down, and Gov. Jerry Brown wants to use part of California's share of the national mortgage settlement to trim the state's budget deficit. Gov. AM Alert: Jerry Brown takes his budget pitch to Charlie Rose Brown Turns to One-Time Fixes to Help Close Budget Gap Why Jerry Browns Bid to Fix Californias Budget Isnt Working |
Report: Fewer US homes foreclosed upon in April - Boston.com
 Boston.com | Report: Fewer US homes foreclosed upon in April Boston.com The divide comes down roughly between the 26 states where courts play a role in the foreclosure process and places like California and the other 23 states where the process generally moves quicker because judges are not required to sign off on ... Foreclosures Move Downtown Foreclosure activity sinks to a five-year low Foreclosures down, short sales up. Are banks getting smart? |
Foreclosure drop seen nationwide - Columbia Daily Tribune
 ABC News | Foreclosure drop seen nationwide Columbia Daily Tribune "Our preliminary first-quarter sales data shows that pre-foreclosure sales — typically short sales — are on pace to outnumber sales of bank-owned properties during the quarter in California, Arizona and 10 other states." After three straight monthly ... SJ foreclosures fall, following state trend Foreclosures Fall...And That's a Bad Thing? U.S. foreclosures at a 5-year low |
Bill to help with foreclosed homes hit by vandals - KGET 17
Bill to help with foreclosed homes hit by vandals KGET 17 However, a new bill aims to prevent neighborhood blight and crimes associated with the foreclosure crisis. Many believe it is the aftermath of so many foreclosures. Currently, Kern County has the highest number in California with 35000 from 2008 to ... |
US regulator balks at Calif. foreclosure fixes - Reuters
 News10.net | US regulator balks at Calif. foreclosure fixes Reuters The term robosigning describes the practise of bank workers signing off on foreclosure documents en masse without verifying information in the paperwork. The regulator said the proposed legislation in California would loosely define robosigning in a ... Federal regulator questions Calif. mortgage bills California Bankers Say Mortgage Proposals Too Strict Gov. Brown has his own plans for mortgage settlement cash |