For real estate investors, oftentimes the best way to find a deal is to scour the market for foreclosed houses and other distressed properties or short sales.
This is a fantastic and well-used strategy for making it big in the profession, although a more stable housing market, increased home equity and other positive trends means that fewer homeowners in many regions are avoiding the foreclosure process.
However, several markets are still ripe for foreclosure picking. According to RealtyTrac, there are 20 cities across the U.S. that have affordable foreclosure discounts. At the top of the list is Fort Myers, Fla., where the average foreclosed property sold for a price of $135,409. The total discount percentage, or the difference between that sales price and the average one of a non-distressed property, was at 65 percent. Close behind was Columbus, Ohio, at 63 percent.
Overall, great markets spanned the entire country. Cities in Georgia, Tennessee, Washington and Virginia all cracked the list. At the bottom was Los Angeles, with a discount of 44 percent - still a great location for deals on foreclosed houses.
Design trends that popped up in 2014
After purchasing a distressed property, some investors may be tempted to fix it up and sell it quickly for a profit. In order to do that, they'll have to take advantage of a few current home design trends.
According to CBS MoneyWatch, one feature that is popular is the open concept kitchen. Essentially, this a room that is connected to the rest of the living space instead of being separated by walls. Even appliances have factored into this trend, blending into the background. In addition to the kitchen, homes have also gone neutral. Walls are less vibrant, instead painted in hues of white and gray. Bold tones still appear in the form of accent pieces.
Courthouse Retrieval System can help any real estate professional succeed. With easy access to mortgage records, property data and much more information, it will be easier to excel within the industry.