How to Buy a Home

Do you want to buy foreclosures at an auction?

If you’re among the many looking to buy foreclosures at auction, don’t have any fear the decline in filings over the past several months will rob you of your chance at a fabulous buy.

Home foreclosure filings declined steadily from August through November 2009, but were still significantly higher than they were a year ago, according to RealtyTrac, a leading online marketplace for foreclosure properties.

Home foreclosure filings For November 2009 — including default notices, scheduled foreclosure auctions and bank repossessions — numbered 306,627, a decrease of nearly 8 percent from the previous month, but still up 18 percent from November 2008. That number means one in every 417 U.S. housing units received a foreclosure filing in November.

Default notices nationwide were down 8 percent from the previous month, but still up 22 percent from November 2008; scheduled foreclosure auctions were down 12 percent from the previous month, but still up 32 percent from November 2008; and bank repossessions were flat from the previous month and down 2 percent from November 2008.

Many of these homes will be sold at auction.


By Diego Loya

Diego Loya is a Realtor - Broker at Home Living Real Estate Brokerage, a Orange County full services real estate company. Over the past 12 years, Diego has helped homeowners sell and buy their homes. He's loves educating and empowering real estate consumers. You can find him on Google, Facebook and Twitter.

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