Posted: 30 Jan 2010 05:56 AM PST

Going green houseWhat looks like a real estate bargain is not always a bargain

In Coos Bay and North Bend on the Oregon Coast, many Bank Owned foreclosures require inspections to be done before offers are made on these properties. On rare occasions, if the home cannot be financed without certain repairs such as safety hazards (electrical) or well repairs (i.e. no water supply) the bank may agree to repair these.

For potential real estate investors who have money in their pockets, today's real estate market is full of bargains, but be careful what looks like a real estate bargain isn't always a bargain.  Some of the best bargains out there have foreclosure written all over them.  The biggest problem with foreclosures is that they are in the lender's hands and more often than not the lender is not looking after the property, at all.  In cold climates this could mean frozen pipes and water damage, in other areas it could mean general plumbing problems.

In general foreclosure properties are sold "as is", which means that there will be no inspections and the lender will be putting no money toward fixing anything.  Air quality problems that may arise from mold, gas leaks, will not be mitigated.  Lead paint will not be replaced nor will asbestos be removed.

If you have your heart set on a foreclosure property, take off your rose colored glasses and be realistic.  Contact an experienced Realtor and try to get a sales history on the house.  Doing your homework could result in a better outcome.

Real Estate Market's Ups & Downs Present Many Questions

Posted: 30 Jan 2010 06:00 AM PST

Roller coaster           The real estate roller coaster leaves many questions

Let's face it, times are tough and on any given day the mood is a different one than the day before.  The market's up, then down, we're in a recession, we're recovering, it is hard to know what is really happening out there with so many mixed signals.  Real estate is difficult to figure out, and remains relative to where you are.

Is real estate improving?  Sales are up, inventory is down but foreclosures are expected to keep coming, especially with unemployment figures on the rise.  To find out if real estate in your area is improving talk to a real estate agent and look at the statistics that they provide.  The December real estate sales figures were down as a nation but some areas of the country saw an increase in sales.

Have we hit bottom?  Parts of the country have hit bottom other parts still have a way to fall.  Home prices are apparently steady in parts of the country and climbing in others.  The areas where home prices will continue to fall are those hit hard by job losses, an increase in foreclosures and too much inventory.

In a nutshell, real estate is relative.  It is improving in many areas and as soon as our recovery includes job growth real estate is going to improve in many more areas.

Click here for an article about real estate on Yahoo Finance.