subject: Understanding Competition And San Francisco Foreclosures [print this page] San Francisco foreclosures are an excellent way to buy a home in a real estate market that has historically been competitive. San Francisco homes in the citys best neighborhoods are quite expensive. These often historic homes are beautiful but can be well above the national average price of homes due to their location. San Francisco has always had a thriving rental market due to the high price of real estate in the area. San Francisco foreclosures mean that you do not have to choose between undesirable neighborhoods and renting you can purchase a home with a little effort.
San Francisco offers a wide array of foreclosed property, from fixer uppers to tax sales, HUD houses, government foreclosures, and REO homes. If you are new to home buying, consider an REO house, which can be less risky and easier to buy. If you need a big discount in order to afford the San Francisco market, consider tax sales and sheriffs auctions, where homes can be bought at a fraction of their price.
Just keep in mind that San Francisco has always been a very competitive foreclosure market. Investors want to buy into this market and buyers want to move here since the city offers a thriving arts community, plenty of jobs, and a good lifestyle. This means that the San Francisco housing market rarely cools down to the degree that other markets do. It also means that at any one time other buyers are looking to score a bargain to. You will need to beat the competition by learning as much as possible about foreclosures and by being able to act quickly when you see San Francisco foreclosures that seem promising to you.
