subject: Discount Real Estate: Teardown Properties [print this page] Discount Real Estate: Teardown Properties
One of the biggest problems people have when they are trying to buy a home is finding the one that best suits what they need. If you have a larger family you may need multiple bedrooms, a bigger garage for the cars and extra stuff you need to store, and a bigger back yard or perhaps a pool. For the couple that just wants to find their dream home, all the houses in the area they want to live may seem too big and too expensive for them at this time. The fact is that right now the state of the economy and foreclosure problem in the real estate market has pushed home prices down so much that it has become a buyers dream. But what about the buyers that can afford a place but cannot find the one they really want? Well that's why you need to look into teardowns. You may not be aware of what a teardown property is, well that is when a specific property in a city is so run down that you can tear it down and build a new property. Because the property is in such poor shape you can get it for an extremely low price. Real estate investors spend months and years looking for the very best teardowns because the values are so high. Well you can beat them to the punch with so many websites now available that give you exact listings of properties that not only fit the description of a teardown but they also have owners who are very willing and motivated to sell. There are several major metropolitan areas in the Western United States with a lot of teardown lots and properties including San Francisco, San Diego, and Phoenix.
If you are looking to purchase a teardown for yourself then that is still great news despite the troubled economy. The construction industry is down as well in this economy so getting a new home built will be much less expensive as labor and materials are cheaper than they have been in years. So rather than buy and live in someone else's home, you can affordably build a home that fits your lifestyle and budget all by looking for a teardown online today. Just because you are going to be living in this new home doesn't mean you cannot look at this from an investor standpoint as well. Having a brand new home that you paid very little for will be a great investment once the market rebounds and prices go back up in a few years.
