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Mar 26

Apartment Dwellers Buy Homes Foreclosed For Sale Cheaply

Although the economy is in a recession, apartment dwellers are getting their own homes by purchasing homes foreclosed for sale at bargain prices. Just ask Janice LaPorte. She has been living in a two-bed roomed apartment in Carton for nearly a decade now. Today, she is very excited as the waits to move to her new house in Dayton. The broken water hose did not discourage her from buying the property.

LaPorte is excited, not because she is moving to a new house, but because the house is hers. She gets to do whatever she wants with the house. Last year, LaPorte started looking for a house but she could not get one as the prices were so high that they locked her out. However, this year things are different. With so many foreclosures in the market and the tax cut offered to first time home buyers, she could not miss the chance to own her own house.

Just like LaPorte, many people are finding foreclosure properties to be the only way through which they can own a good house at a bargain price. Foreclosures have generated a lot of interest and no one is letting the opportunity to own their own home pass. The foreclosure properties are offered at between 30 to 50 percent cheaper than their market worth. There are even houses that are going for les than $10,000. Such houses were initially in the hundred thousands range. This is the time to own a house in you do not have one.

Some people are using this opportunity to get into real estate business. For the first time, college students and recent graduates have been among the most active purchasers of houses. This is amazing considering that they would normally have to take about 5 to 10 years to get their own houses. Homes foreclosed for sale have opened a whole new avenue where housing has been made affordable

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