Foreclosed Homes Tour

Rebecca Anderson is meticulous. I watched her comb over the nooks and crannies of one of the foreclosed homes we visited.

“You know the price will likely be below market, so it's worth the extra effort,” says Anderson. She says she’s looking for an investment property.

“Someone's already gathered all the information have access to a realtor who's knowledgeable it's kind of a slam dunk deal it saves time for me,” says Anderson. She was one of about a dozen people taking part in a Baldwin County us tour of foreclosed homes today, 11/14/09. Realtor Linda Cramer is our guide on this “House Hunt Safari.” It's like speed dating for houses. Buyers browse for about five minutes. Then they go outside for a quick summary by a home inspector and then it’s off to the next house. While the savings may be the most immediate draw there are other advantages they say, to buying a foreclosed home.

“If you buy a house that's priced under value then as soon as you buy it you have equity,” says Linda Cramer. Realtors say you'll save at most 10% off the list price, which is still a lot of money. Cramer says you'll also make friends through buying foreclosed properties.

“All the neighbors are real happy that you bought it,” says Cramer with a chuckle. While some look to flip homes, others are looking for a place to call home.

“I'm looking for a home for my family, we want a foreclosed home because it'll be a good buy,” says prospective buyer Robin Arender. This is the second tour of foreclosed homes in Baldwin County. Another is planned for December 12th.