search foreclosed homes in San Diego

The art of a foreclosure deal, can be a thing of beauty if you know how to negotiate a San Diego foreclosure or REO deal. It may not be internationally recognized in the same stream of consciousness as a masterpiece by Renoir, Goya, Monet or Picasso, but a well constructed San Diego foreclosure investment deal can be a masterpiece to those who appreciate the effort that went into it. You need to use a foreclosure Realtor to buy foreclosures and REO's if you want to learn the pros and cons of buying San Diego foreclosure and REO houses and condos.

Envision the "Big Picture" Before Beginning

As investors are well aware, the business cycle switched over to a buyer's market in 2006, which made determining whether a particular property is a worthwhile addition for one's investment portfolio a much more difficult decision to make.

Many homeowners facing foreclosure today are upside-down financially for various reasons and can't refinance their way out. Housing stocks around the country have growing inventories making it difficult for distressed homeowners to sell their way out. Prices continue to decline in many parts of the country and home sales volumes are dismal at best.

To Southern California-based investor and trainer Bruce Norris, president of The Norris Group, education and gaining firsthand experience are essential for the novice investor.

"Concentrate on education," Norris said. "If I were a new investor I would run an ad that I buy properties, and have conversations 50 times a month with sellers. It's good practice. You may get very fortunate and have a motivated seller. You could get lucky!"

Designing the Deal: A Real Work of Art

There are many books, seminars and workshops in the marketplace today addressing investing in real estate - particularly in foreclosures. Many of those education vehicles go through the same basic "Investor 101" essentials, such as selecting a geographic area to concentrate efforts, determining the type of real estate (single-family, condo, townhomes, coops, duplexes, etc.) to pursue, assembling an investment "team" (lawyer, accountant, contractors, real estate agent, etc.), and having a pre-approval letter from a lender in hand.

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