Foreclosure Shopping Is Just The Click Of A Mouse

April 28th, 2008

The shop shelves in the real estate market are riddled with foreclosure properties or properties owned by the bank. To attract customers and get the ball rolling the latest step causing a stir is the debut of HouseRebate.com. Till date it is the most efficient and comprehensive search tool available to prospective buyers in San Diego. Foreclosure shopping is literally just a click of the mouse. Immediately one is flooded with details of properties from which to pick and choose. It beats the speed of a foreclosure bus tour and can be done in the comfort and privacy of the home. One can view all the listed sales in San Diego Multiple Listing Service.

To see for themselves the various listed properties and repo homes so far the bus tours have been stealing the show but now the most popular thing is clicking and seeing. Previously one had to buy from a real estate agent in San Diego the list of the posted units. There was a ‘if’ – the property could be bid for if it appeared in an auction. But the real estate owned units (REO) have crossed that stage and can be inspected and be bought directly from the lender in auctions. The banks are offering heavy discounts – an added advantage. With discounts starting from 10% the potential buyer has the opportunity to take the unit off the shop shelves in less than 30 days. Thus for the San Diego buyer there is saving coupled with availability. The newly introduced foreclosure search device allows buyers to hunt around San Diego real estate market and thus save thousands on innumerable choices available.

The foreclosure debacle has caused many lenders to be wary about sanctioning mortgages. But in the tie up between HouseRebate.com and Aimloan.com the San Diego purchases can pick up a quick deal in the REO market as the loan is sanctioned within 10 days. It gives a competitive edge over other buyers. The loan can be sanctioned immediately online – of course subject to the search of title and valuation of the unit. Even in the matter of appraisal the San Diego buyer can get it done faster than the usual time of seventeen or even thirty days taken.

In today’s market speed is the pivotal point. Once the sales start picking up the market in the normal course is expected to stabilize. The shops will no longer be glutted with foreclosed houses.