Cedar City Real Estate Auctions

There are a lot of people who are struggling to make their mortgage payments and keep their credit clean with all of the financial crisis that has been going throughout the country. Due to this there are many homes that have gone into foreclosure and are property of the banks.

Banks do not want to be in the real estate industry they want to be in the lending industry. So when they get a bunch of homes that have loans in default they are not in a good mood. The result is they have no one paying them money back and not to mention they are losing money with a piece of real estate on their hands.

This is where the banks hold real estate auctions to get rid of their properties that they hold. And when I say they want to get rid of them I mean it. Recently there have many real estate auctions across the country and many in the state of Utah.

There have been homes going for 40 cents on the dollar. This means that if the home were valued at $100,000 then it would be sold for $40,000. That is a good deal to have 60% off on anything especially real estate.

If you are looking for a home you might want to consider looking into the bank real estate auctions. They are held all over. To find them you can look up your local real estate agent and they will be able to help you find where and when they are being held.

One thing to remember is that it will be easier to find homes that are in the bigger price range that are above a million dollars because the market for those are not high in demand. I recently heard about a million plus home that was bought for somewhere in the $500,000 dollar range.

Even though that is still a lot of money it is a steal off of what is was normally going for. So if you are in the market for this type of price range I would be on the lookout for these homes that people got in way over there head on. Their loss your gain.

The Bontadelli Team can help you find the perfect home like this in any area especially in the Cedar City real estate market. Good luck in finding your home at a great price.