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New real estate gold rush in Sacramento

StockMan69 said: "There is a new gold rush in Sacramento [url]http://www.sacbee.com/103/story/803709.html[/url] People are buying up the old bank-owned foreclosure homes. But it is also a good way to get screwed it looks like."

AlfredSokol said: "They don't have the same rights buying the foreclosures from banks. I would say this is still the arena of savvy investors rather than neophytes."

thezster said: "Having dabbled in this arena many times in the past - I would say that REO's are a great way to get into a house for those who don't want to "pay retail" - so to speak. The biggest difference is a disclosure report, which owners have to provide (and can easily lie about) and banks dont. A qualified home inspector, which typically is paid for by the buyer anyway, can point out most (visible) problems with the home in it's current state. On the other hand, those "invisible" problems won't show up regardless of who the seller is. I, for one, enjoy dickering with the bank on foreclosures - as I know exactly how much they have invested - and, based on the TOM, know pretty much how motivated they are to get rid of it....."

AlfredSokol said: "If you are a handy person it makes a ton of sense."

pranith said: "well thats good to hear from the real estate side. I thinkj more will be going to buy this gold venture."

sr106 said: "nowadays there is a rumour coming form people, gold is increased due to stock market decreases.... if stock market increases then gold is decreases... is this true...."