In Buying Home Foreclosures, It's Location, Location, Location!

No matter what shape or condition that home foreclosure is, it all boils down to location, location and location! I have mentioned before that it's alright to buy the ugliest house in a nice neighborhood. But it's NOT alright to buy the most beautiful house in an ugly neighborhood. The market value of any property you acquire in your home foreclosures investment will be strongly dictated by its neighborhood or surrounding. Deviate from that and you'll end up being another "motivated seller" yourself.

Try to drive-by along the neighborhood of your prospective property. A quiet community during the daytime might be completely different in the evening. It could be a hang-out for some gangs or drug addicts at night. There are countless unpleasant situations that occur at night that you don't normally see during the daytime.

But what other factors as far as location that you have to be concerned in buying a home foreclosures? Is located right next to a high tension tower, liquor store, strip joint or even next a to nice river bank?

I personally know a couple who happens to live next to a river in Florida. They were elated when they just bought this home for a good price. It's so nice during summer and it's almost like a picturesque setting! What they found out is this river is completely different during the hurricane season. The river bank is getting closer and closer to their home every time there is a strong current! The strong water flow is eating up the land. Now they know why they got it cheap.

How about if the whole surrounding of the home is shaking a couple of times a day? Well, if you know your train schedule maybe you could plan when to brace yourself. This is a video made by Bill Woodal that shows you better know your train schedule when buying a house.
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You will learn that a situation like this one, Bill said will make a house "less sellable".