Real Estate for 30% – 80% Off? Are Sandpoint Homes at Risk?
Can Sandpoint, Idaho foreclosures be purchased at the national discount of about 35% and in some areas of the country up to 80 percent?
Yes, if you know where to look. The best deals right now are in land destined for developments that never materialized and in pre-foreclosures. A recent case in point. A developer had purchased a large block of land with a house on it. Work was started on the lot improvements and the work took so long that the economy shifted and the banks stopped lending. The developer just let the house go for a song to keep up the payments on the rest of the property.
Most Sandpoint foreclosures and pre-foreclosures never make it into the Multiple Listing Service (MLS), and this is a perfect example.
On a side note,
A couple visited with me yesterday and said they were excited about being able to write off interest and expenses again their income and since they are first time homebuyers they said they would take advantage of the $8,000 tax credit offered by the federal government.
I went over the potential taxes they may have to pay, what they could deduct and referred them great local CPA to ensure they knew exactly where they stood.
Out of state home buyers have special needs. They may have specialized questions beyond Sandpoint real estate. Do you have questions? Ask Ray.
Tags: $8000 Tax Credit, special needs
