Now may the best time to buy a foreclosure house in Henderson, Nevada. Several factors have come together to make this the most opportune time to buy a house. Whether it is your first home or the home of your dreams, don’t let this opportunity pass you by.
While the number of foreclosures in Henderson may increase in the coming months, I wouldn’t bet the house on it. The economy seems to be improving and banks want people to stay in their homes and pay their mortgage, so they are willing to deal. The supply of foreclosed homes may be on the decline. The wild card in the deck is the number borrowers who are delinquent on their mortgage that the banks have been reluctant to foreclose on, thereby increasing the supply of houses on the market and driving down prices even further.
Now that the $8000 first time home buyer’s tax credit ($6500 for existing home owners) has expired, it would make sense that the number of buyer’s has declined. Anyone who wanted to buy a house probably has entered into a contract to take advantage of the tax credit, which expired on April 30th. That should mean that there is a lot less competition to buy existing houses on the market. This should translate into many good real estate deals as banks want to reduce their inventory of REO homes. The only caveat is that the good homes have probably been sold, so you need to be very diligent in evaluating the condition of any house still on the market.
So happy hunting, but be cautious.