Finding Foreclosed Homes in the USA…

Greetings,

Let us discuss finding foreclosed homes in the USA, yes? If you’ve read the last update, you’ll know that random thoughts are being entertained, this is an expansion on the latest one… A lovely lady known to those in the know simply as “THE WIFE” sent me an awesome article that I’ll paraphrase for you here… When it comes to foreclosures in the USA, the 10 states below are the “Top 10”.

  • 10 – Wisconsin – One in every 571 households
  • 09 – Illinois – no way, too close to Canada, too cold
  • 08 – Idaho – Ida say what!?
  • 07 – Michigan – laughable
  • 06 – Florida – perhaps!?
  • 05 – Utah – LOL
  • 04 – Georgia – see above
  • 03 – Arizona – possible!?
  • 02 – California – very possible?
  • 01 – Nevada – One in every 115 households

So there we have it, that is the list. Of that list, Florida, Arizona, California and perhaps, oh just perhaps Nevada. Should one be purchased it has to be somewhere family would also enjoy visiting / passing time… Therefor Nevada is gone. The question is how many of these places are going to auction?

Everything else aside, one must strongly consider carrying costs. What are the property taxes? Hydro, electricity etc… By purchasing a place in the south, you can save on heating etc… Some would say cooling but if you know me, I lived in a cashew tree fort on coast of Africa at sea level on the equator for 5 weeks… For 2 of the weeks I was in a tent with no fan, I’d fall asleep dripping wet and wake up soaked. That was definitely “tmi” and we’re moving on…

For some reason, the only places that talk to me are California and Florida. Now the question is “what parts of California & Florida” are such said houses available, on the cheap? Furthermore, does one want one? Just working from home in Ottawa, it’s isolating. Imagine moving into some ghost town that is about 1.5 hours from any city … Could be an isolation station.

Next one must think about the stresses involved with property ownership as well as all the hidden costs… I’ve gone over basic carrying costs but that doesn’t account for some family of raccoons making a home in some pipe and it … or some random flood or hurricane or tornado or whatever else they have in south of the United States.

Not only that but have you ever even signed up for some affiliate program involved in the USA? They send you forms and ask for DNA samples, finger prints, blood samples… If one isn’t involved in such said system, why would they want to be? Can see how people from “other parts” of the world may wish but if you’re from their northern neighbor… Why bother?

Until further notice, this idea will be simmering on low heat unattended in a kitchen near you.

Can you picture yourself moving in somewhere, fixing it up, cleaning it and just sitting there watching the paint dry / flowers grow while looters come to other such said foreclosed properties and steal their copper piping? No.

Tips hat,

6 Comments

  1. charlie

    September 14, 2011 at 10:15 am

    Utah is still worth a look if you find a place near the mountain ski resorts. You’d be surprised how few Mormons and how many hardcore outdoor sportsman are in some of those places. Backcountry telemark skiing, iceboating, insane rock climbing, kayaking, mountain biking… all that shit. And Utah often gets winters with the best (driest, lightest) powder.

  2. Rob

    September 15, 2011 at 7:54 am

    Thanks Charlie, I have heard good things about Utah in that regard as well. After an egregiously erroneous leg press accident my knees are shot. As a result most winter activities are out of my realm of ability these days. Looking to avoid cold at all costs.

  3. Cilla

    September 17, 2011 at 3:59 pm

    I recently moved from NYC to South Florida. Best decision yet. You can buy/rent a great place for dirt cheap down here. Just make sure you’re in a decent area (basically close to the water). We’ve been eyeing Cali because the job market here sucks but if you can secure work from out of state I say go for it! Good luck!

  4. Rob

    September 18, 2011 at 8:49 am

    That is really good to know, how dirt cheap we talking to rent? Get a to know a place type thing… ?

  5. Ross Jordan

    October 6, 2011 at 11:24 pm

    I bought a foreclosure here in Seattle. There’s good deals to be had, but you gotta put in the time to understand the market, do the bargaining and make the deal. You can also very much get screwed if you don’t do the due diligence.

    I did a writeup of my buying experience if you’re curious – http://seattlebubble.com/blog/2009/06/10/reader-story-buying-a-bank-owned-home/

    • Rob

      October 7, 2011 at 5:08 am

      Awesome and thanks for sharing, you’ve been down in Seattle for some time?

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