"Opportunity or Disaster?"
If you are a Los Angeles home buyer looking for some great deals, keep a lookout for three letters that can signal opportunity… N…O…D. NOD stands for default notices, which is a tool used to initiate the foreclosure process … and according to the latest reports … they are being used a lot in California now.
Realty Trac recently reported that the three states dominate the list of foreclosures and foreclosures contribute more of them than the rest of the country combined. If you are locating for the foreclosures in Los angeles, continue reading the following pointers mentioned below:
The three states in the framework are:
1. California – 30.0%. 2. Florida – 15.7%. 3. Arizona – 5.4%.
Homebuyers can expect the flow properties in many parts of California … and Los Angeles in particular … is controlled by the bank.
Banks will continue to have the logs back on their inventories accumulate an ever-increasing number of foreclosures.
However … the bank buying the property that can be a trying experience.
Not every foreclosed home in pristine condition, but there must be a glut of them to choose from in the months ahead. In many cases, this home is perfect for first-time buyers … buyers are moving up … and investors.
Banks are gradually getting better at throwing their foreclosure from Los Angeles toxic home loans.
The process of buying bank REO (REO stands for real estate owned bank) is not as difficult as it has been in the past … but still can be a very challenging process.
This dynamic bank controlling the ebb and flow of real estate sales in a particular area of Los Angeles does not figure to change any time soon.