Foreclosed Homes for Under $50,000



Purchasing a foreclosure home provides a buyer with a great opportunity to not just find the home of their dreams, but to reap several additional rewards. Like what, you may ask? First and foremost is the idea of saving money. Given the right circumstances and foreclosure opportunity, you can easily find yourself paying anywhere from 10 to 20 percent less than the property's current marketing value. That can add up to several thousands of dollars in savings. Add a little TLC in the form of minor repairs and improvements, and you could increase the property’s value and your future profit margin when the time comes to sell. Finally, buying a foreclosure home often provides you with a little more room to negotiate with the seller at the time of sale. For instance, a bank looking to sell one of its foreclosure homes may be more than receptive to entertaining your request for a below-market rate mortgage, no or low closing costs and/or additional monies for needed repairs and improvements.

REO foreclosures provide buyers with a great starting point in their search for a home or investment property. You may even be able to start reaping the rewards of foreclosure buying with one of these foreclosure homes currently up for auction. An added bonus is that they all start out at under $50,000.

North Evergreen Street, Memphis, Tenn.: List Price $41,900

• This picturesque single family residence has 1,419 square feet of ready-to-move-in living area.

• It includes 3-bedrooms and one bathroom.

• Elvis, Graceland, birthplace of the blues, finger-licking barbeque delights…do we need to say anymore about the largest city in Tennessee?

• This foreclosure has an estimated value of $62,421, based on recent sales of a variety of single-family properties within the zip code.

Tennessee Real Estate

Woodview Road, Cleveland Heights, Ohio: List Price $36,900

• This single family, two-story residence provides 2,257 square feet of living area.

• It includes 3-bedrooms and 2-bathrooms.

• A suburb of Cleveland with approximately 50,000 residents, Cleveland Heights is a progressive and vital community for those looking for a convenient commute into downtown Cleveland or to adjacent University Circle, Cleveland’s cultural center.

• Has an estimated value of $112,692, based on recent sales of a variety of single-family properties within the zip code.

Ohio Real Estate

Augusta Road, Pelzer, S.C.: List Price $49,900

• This newer built, 3-bedroom, 2-bathroom home not only provides 2,000 square feet of living space, but lots of outdoor room as well.

• This small town of only 97 is located near the Saluda River in rural upstate South Carolina.

• The home has an estimated value of $125,020, based on recent sales of a variety of single-family properties within the zip code.

South Caroline Real Estate

McKinney Street, Detroit, Mich.: List Price $45,900

• This quaint 4-bedroom 2-bathroom home offers 1,440 square feet of living space.

• Michigan’s largest city is also a major port city, automotive center and manufacturing powerhouse.

• Residents of the nation’s seventh most populated city enjoy a wide selection of activities including museums, art galleries, historical monuments, Broadway shows, music concerts, and professional and collegiate sporting events.

• This home has an estimated value of $84,600, based on recent sales of a variety of single-family properties within the zip code.

Michigan

Kentucky Street, Dearborn, Mich.: List Price $17,500

• At 1,639 square feet, this roomy two-story home offers four-bedrooms, two- bathrooms of living space.

• Located in the Detroit Metropolitan area, Dearborn home values have remained historically high.

• The city has earned a reputation for having quality schools and a clean living environment.

• This home has an estimated value of $109,321, based on recent sales of a variety of single-family properties within the zip code.

Michigan

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