ARIZONA DAILY STAR: Sun., April 19, 2009

Foreclosure bargains aren't a snap

By Josh Brodesky

 

Home auctions can have fire-sale prices, but be prepared to do heavy fix-up work

For prospective buyers searching the foreclosure listings — often called "vultures" in the real estate world — bargains can be had. But finding rock-bottom prices, even in this depressed market, isn't as easy as you might think.

Bargain hunters searching for deals of $100,000 or less should focus on homes that have been on the market for months, and they should be ready to put in some serious repair work when their offer is accepted.

But keep in mind that when foreclosed homes come particularly cheap, they have almost certainly been trashed and require heavy fix-up.

FULL STORY: http://www.azstarnet.com/allheadlines/289322