BEWARE OF THE DANGER OF FORECLOSURES

Due to homeowners stretched to the limit with risky loans and a slow resale market, home foreclosures have dramatically increased over the past few months. Once a viable source for real estate investors and homebuyers to take advantage of lower pricing, foreclosures have become a risky proposition at best. The purchase of a foreclosed home may appear to be an attractive investment, but upon close examination, what may have looked like the “Buy of the Century” can be very troublesome and full of unexpected problems. Looking for a foreclosure in the neighborhood or area you desire can be a problem and the house itself may not be what you really need. Are there enough bedrooms, bathrooms, etc. Why settle for a house that is really not the home that suits your family best on the assumption you will save thousands of dollars, when in fact you may be able to purchase the perfect home for less. Most buyers think that the price of a foreclosed home is much lower than comparable homes. In fact a study by First American Real Estate Solutions found foreclosed homes sold for about 15 percent less than comparable homes and in some areas sold within 5 percent of full market value. In today’s competitive market, many builders, such as Kaye Homes, a custom home builder in Naples, Florida are offering incentives on new homes even greater than 20%. Kaye Homes is finding customers would much rather own a brand new home at the same price, or near, as a foreclosed home. With a new home, guaranteed from the builder, the homeowner is purchasing peace of mind as well as the home of their dreams. With a foreclosed home, in most cases, the builder is long gone and out of the picture, so repairs come out of the buyer’s pocket. Many foreclosed homes have been neglected for some time, and will require thousands to restore to its original condition, thus making its purchase not the bargain it appeared to be. In a challenging market like today’s you may be far better off buying a new home from a reputable builder in your area, at the builder’s discount than taking a chance on a foreclosure that may present many unwanted surprises. Voted Florida’s Best Builder, Kaye Homes is Southwest Florida’s largest locally owned homebuilder. Since 1985, Kaye Homes has built over 3,000 homes for satisfied customers. With two model centers in Naples, Kaye Homes continues to provide unequaled value and quality for today’s homebuyer. Our “Personalized” Homes present the finest in custom luxury homes, priced from the $600s to $2 Million. Our “Performance” Collection of Homes personifies value for the first time homebuyer and more price conscious buyer, priced from the $200s to $500s. Plus we have a wonderful selection of “Showcase” Homes, ready for immediate occupancy priced from the $200s to $800s. For more information and to find your next home please visit us at http://www.kayehomes.com/ or call 239 455 1007.