Things You Should Know When Buying Bank Foreclosures

1) Location, Location, Location

Location is still everything when it comes to buying a house but think to the future before finding that short sale bargain and beginning a facelift. It can be easy to forget what happened a few short years ago with the onslaught of bank foreclosures when you see the making of a dream home before your eyes.

2) Buy Now, Expand Later

Take a view of the neighborhood and determine what the homes are worth. Homes are many times evaluated by appraisers with surrounding houses. Adding an addition may sound like a good idea at the time but consider the value, or lack of, that will result. By increasing the size of your home, it may bring a great feeling of pride but will not increase its worth if sitting beside smaller, less expensive houses.

3) The Cheapest House in the Block

When buying foreclosures, look for a smaller house in a good neighborhood.If you are intent on turning a house into a home of your own making from a short sale, go for the lowest priced home on the block. This will give you the opportunity to save money, start from scratch and keep overkill from occurring. You will be able to redecorate the interior and exterior in an aesthetic style that fits your personal taste but remain in the ballpark of like values.

4) Budget

Create a budget for remodeling right after purchasing a short sale and do not exceed. A crystal chandelier may look dazzling in the foyer but ask yourself if it is worth spending $2000 as opposed to a hanging light that costs $200. Simplicity is best, especially as we crawl out of the devastation of the housing bust. The future can be shaky for years to come and learning to stay within your means should be a lesson well learned.

5) Remodeling: Pace Yourself

Take the time and think before charging head first into a remodeling project after buying a short sale so you are not left with a loss at the end of the day. If you find a house in a short sale that only allows a couple thousand dollars in renovation, walk away. It will not be worth your time and money to try and stay within the neighborhood overview.

6) Shop Around

There are still many bank foreclosures to select from today. Take your time and think about all the aspects of investing your money into a house. Do not hope that the neighborhood will grow in value but instead, consider what will happen if the surrounding homes fall in price. It is much easier to increase a home’s value than to remove the dollars poured into one.

In Closing:

If you want to purchase a home in a short sale and turn into a home of your dreams for retirement, shop around the neighborhoods that have the appropriate size and location. Look for the smallest and worst house in the area, preferably looking misplaced. This will give you the opportunity to improve a house that may be dragging down the value of surrounding homes and give you the opportunity to improve to your liking.

Factors to Keep in Mind When Considering Rent to Own Homes in Reno NV

Rent to Own Homes in Reno

You can find great rent to own options in Reno, NVWell known for being an excellent gaming destination, Reno, Nevada has much more to offer than great casinos. This area has been one of the fastest growing areas in the country, with the population rising by more than 20% since 2000. Rent to own homes in Reno NV are attractive to many home buyers across the country. However, before considering homes rent to own in the area, several factors must be kept in mind. The following factors must be considered before deciding to live in the “Biggest Little City in the World.”

Factor #1 – Local Economy

Buyers considering rent to own homes in Reno NV need to consider the local economy, which is an extremely important factor. Although the economy offers some excellent advantages, it also comes with a few disadvantages that buyers must be aware of before buying. Within Reno, tourism is a big part of the economy, although tourism isn’t as big as it once was within this city. The area is very attractive to businesses as well, especially with the lack of corporate taxes. In fact, many excellent businesses are located in the area, including R.R. Donnelley and Sons, Ralston Foods, Kal Kan, John Deere Company and International Game Technology. These businesses help to keep the local economy going and also provide jobs in the city as well.

Factor #2 – Job Outlook

Another factor to consider when looking for rent to own homes in Reno NV is the job outlook in the area. Unemployment is definitely a problem in the area, which has occurred as tourism has started to lag. The unemployment rate in Reno is above 11%, which is even higher than the unemployment average across the nation. Job growth is negative at the moment, decreasing by about 2.2%. While this doesn’t mean that it’s impossible to find a job in the area, it is a bit tougher to find work, which is something that must be considered before deciding to go with homes rent to own in the city.

Factor #3 – Educational Options

Educational options should be considered before deciding to go with rent to own homes in Reno NV, especially for families with children or those interested in furthering their own education. The public schools have a lower than average child to teacher ratio, which is beneficial. Parents not only have good public schools available, but private schools and many charter schools are available, which allows parents to decide on the best schools for their child’s needs. Various institutions of higher education are located within the Reno area, including various universities and colleges.

Factor #4 – Area Climate

Of course, one cannot forget to consider the climate when deciding whether to go with rent to own homes in Reno NV. While the area enjoys four distinct seasons, the temperatures are mild, both in the summer and the winter months. Those who enjoy sunshine are sure to appreciate the climate, since the sun shines on most days of the year. The temperate climate and the amount of sunshine enjoyed in Reno is definitely attractive to many people looking for a place to live.

Overall, Reno is an excellent place to live, in spite of some struggles in the job market. It’s important to note that the city offers a lower cost of living than many other cities in the country and home prices are down, making it easier for home buyers to find excellent deals. After considering these factors and becoming well informed on the area, many people do decide that rent to own homes in Reno NV are an excellent option, choosing to move to a city that was once voted as one of the top 10 best cities to live in within the United States.

Rent to Own Homes in San Diego

San Diego Offers Many Benefits to Home Buyers and Renters

Rent to own houses in San Diego CASan Diego is known across the world as an idyllic city that offers
excellent benefits to those who choose to buy or rent homes within the
area. In fact, Money Magazine rated the city as the fifth best places to
live within the country back in 2006. With a population of 1.38 million,
it’s obvious that many people believe this city to be a wonderful place
to live and work.

Those considering whether to rent to own homes in San
Diego should look carefully at the economy, quality of life, education
and real estate market in the area before making their decision. Before
you choose a rent to own apartment in the area, here is a look at some of
the many benefits San Diego has to offer its residents.

Benefit #1 – The Economy

For many people looking for homes or apartments, the economy plays a big
role in deciding where to relocate. Those looking for rent to own homes
in San Diego will find that while the economy is transforming, it is
doing well compared to many cities across the country that are in
economic distress.

The mainstays of the economy have been the military
and defense spending in the area for many years. However, that is
currently changing as more companies involved in international trade have
come into the area. This has put the economy in a state of
transformation. Even during transformation, exports, income, employment
and gross regional product have all increased. For those worried about
job security when looking for a rent to own apartment in the area, job
predictions expect the job market to continue growing in the city over
the next few years.

Benefit #2 – Excellent Education

Families with children should always consider education before deciding
to relocate to a specific area. When deciding on rent to own homes in San
, families will find that education in San Diego is excellent and
has been made a top priority. Class sizes are currently lower than 20
students per teacher and new teachers have been hired. Private schools
and public schools are both available, giving parents an excellent choice
when deciding on where to send their children to school. Institutions of
higher learning also can be found in San Diego, from state universities
to community colleges.

Benefit #3 – Quality of Life

Those who decide to go with rent to own homes in San Diego can also
benefit from the quality of life offered by this city. According to
Holiday Magazine, the weather in the San Diego area is “perfect” with
warm temperatures and plenty of sunshine at any time of year. Crime
levels are declining and the city is one of the safest within the state,
something that is important to most individuals considering the area for

Benefit #4 – Lower Real Estate Prices

A look at the current real estate market in San Diego shows that prices
are low, especially when compared to the prices commanded a few years
ago. This is an important factor for those looking for rent to own homes
in San Diego. At one point, prices in the area soared, quickly tripling in a short period of time. However, sales have gone down and prices have dropped within the past few years.

With dropping prices, it’s a perfect time to buy in this city. In fact, the city offers excellent housing opportunities for everyone. Whether individuals are looking for a rent to own apartment a family home or a luxury dwelling, the real estate market can cater to everyone’s needs.

These benefits show prospective home buyers that rent to own homes in San
Diego are indeed an excellent choice. From a thriving economy to an
excellent quality of life, the area has much to offer everyone.

Rent to Own Homes in Midland TX Offer Many Benefits to Homebuyers

Midland, Texas is a city of about 113,000 people that is located near Odessa and between the cities of Dallas/Fort Worth and El Paso. Both President George H.W. Bush and President George W. Bush, and both of their wives, came from the Midland area. This unique city continues to grow and it has been named as one of the most secure cities within the United States. For homebuyers considering rent to own homes in Midland, TX, the area offers a variety of benefits and excellent opportunities for families. If you’re unsure whether houses for rent to own in this city are right for you, here is a look at a few of the benefits you’ll enjoy when relocating to Midland.

Homes in Midland TXOne of the big benefits offered to those who decide on rent to own homes in Midland TX is the thriving economy. Since the population continues to grow in the city, it has led to retail growth in the area, which gives the economy a boost. Companies like Midland Memorial Hospital and Medical Center and AT&T Wireless provide jobs in the area. The economy also gets a boost from the low cost of living in Midland.

Midland also offers the benefits of excellent job growth and a low unemployment rate. Jobs are important to buyers considering rent to own homes in Midland TX. People relocating to Midland need to know they can find a job to support their family. Currently unemployment is at 4.1%, which is much lower than the national unemployment rate. With one of the lowest unemployment rates, plenty of great job opportunities are available. The job market is also growing and positive job growth is difficult to find in today’s economy.

For families, the good education system in the area is a big benefit. Parents have several school options when going with rent to own homes in Midland TX. Some excellent public schools are available, a few charter schools can be found and many different private schools are available to parents who prefer to put their children in a private school environment. Among the public schools, parents will appreciate the low child to teacher ratio. The public high schools perform well, sending many graduating students to college, including prestigious options like Columbia, Harvard and Yale. For those who want to continue their education in Midland, several higher institutions of learning are available in the area as well.

Many people considering rent to own homes in Midland TX find the climate to be a huge benefit. The mild climate offers mild winters, warm days without humidity and cool evenings to enjoy. Sunshine is prevalent for more than ¾ of the year, which many people appreciate. While the climate may not be the most important thing when choosing a place to buy a home, it definitely is a big drawing point. Those who decide to settle in the area will find that Midland also offers the benefit of a very low crime rate. The low crime rate as well as the excellent police force offers residents a sense of security.

It’s easy to see that many benefits are available to those who choose rent to own homes in Midland TX. The only consideration is how to find rent to own options. If you’ve decided to buy a home in the Midland area, can help you find the home of your dreams. They offer an excellent search engine that can help you find houses for rent to own within the city. Another option is to consider for sale by owner homes. In many cases, you may find that these owners are open to the rent to own option, offering you even more opportunities within the Midland metro area.

Houses for Rent in Cleveland TN – A Thriving and Growing Metropolitan Area

Located about 25 miles east of the well known Chattanooga, Tennessee, is Cleveland, Tennessee, which is a thriving and growing metropolitan area. Within the state, Cleveland is the 5th largest industrial city, currently providing a home to big companies like Whirlpool, Dasani Water, Duracell, M&M Mars, Kenmore and more. The population is over 40,000 and continues to grow, even during tough economic times across the nation. Currently, the city of Cleveland is considered to be one of the fastest growing areas within the state of Tennessee, as well as within the nation. As the metropolitan area continues to expand, individuals looking for houses for rent in Cleveland TN will find that the city has much to offer.

Cleveland, TennesseeWithin the past few years, Cleveland has repeatedly been in the national spotlight. Forbes listed it in the top 100 best places to live. Business Week named Cleveland as one of the top 50 family friendly towns. USA Today noted that within the city, home values were holding steady, performing better than home values throughout the country. With two German companies investing new manufacturing plants worth billions of dollars in the city, the country has looked to this city as an excellent place to find work when unemployment numbers have high record high numbers throughout the past couple of years. This national attention makes it easy to see why an individual may be interested in houses for rent in Cleveland TN.

Jobs and the economy are important concerns to individuals looking for a new place to live and those looking for houses for rent in Cleveland TN will find that the city outperforms much of the country in these areas. Currently, the city has an unemployment rate that is just over 7%. However, this is lower than the 8.6% national unemployment average. The lower than average unemployment rate is probably due to the fast evolving retain market and the strong industrial base of the city. The area has a tourist component that boosts the economy and also is home to several Fortune 500 manufacturing companies. Another benefit of the economy in the area is the cost of living, which is also lower than the average cost of living across the country.

As noted by USA Today, home prices in Cleveland TN are performing better than many areas across the country. In fact, median home values in the area are above $140,000 and keeping steady in a time where many homeowners are facing decreased home values. Home prices are reasonable as well and median rent prices are at right about $600. It’s possible to find houses for rent in Cleveland TN and the rent prices are reasonable for individuals that want to move to this growing metropolis.

The mild climate, hometown feel and high standard of living provided by the city makes it an excellent community for those looking for an excellent place to live and work. Even with a slower national economy, the city of Cleveland and the county it is located in are both continuing to grow. With a diversity that has brought the city international attention, many people searching for houses for rent in Cleveland TN will find this city a place they can call home.

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Location Benefits of Rent to Own Homes in Katy TX

Homes in Katy, TexasWith just over 14,000 people, Katy, Texas is a city that is quickly growing, seeing a huge percentage of growth within the past 10 years. Those choosing rent to own homes in Katy TX find that the many excellent location benefits make it worth relocating to this area.

This city is not far from the Houston metro area, but it offers a suburban life that many families appreciate. Before deciding if Katy offers what you want for your family, here is a look at a few of the location benefits the city has to offer newcomers.

Benefit #1 – Strong and Growing Economy

One of the main benefits found in Katy is the strong and growing economy, which attracts people looking for lease purchase homes. While many cities in the country have been hit hard by the economic downturn, this city still has a thriving and growing economy. Average households are bringing in more than $70,000 a year, while a significant percentage of households make between $100,000 and $150,000 annually. The economy is boosted by corporations that are located in Katy, such as BP America, not to mention the growth in retail throughout the area. Add to that the low cost of living and it’s easy to see why many people are searching for rent to own homes in Katy TX.

Benefit #2 – Available Jobs and Job Growth

Another benefit this location offers is available jobs and job growth. With the national unemployment rate at close to 9%, job availability is very important to most people searching for a new home. Katy’s unemployment rate is lower than the national average and the city is actually enjoying job growth at a time when negative job growth is common across the country. Those who choose rent to own homes in Katy TX will find it easy to find a job, even though they may end up with a commute time that is a bit higher than they are used to.

Benefit #3 – Excellent Public School System

The public school system in Katy is a very good one, which is attractive to parents looking for rent to own homes in Katy TX. Currently, the school system is growing quickly offers an excellent education to students that attend. Parents will appreciate the low student to teacher ratio, which means class sizes are small and kids enjoy more personal attention from teachers. Of course, public schools aren’t the only option, since parents may also choose to send their children to one of the private schools in the area.

Benefit #4 – Nice, Subtropical Climate

Many people appreciate the nice, subtropical climate, which draws homebuyers to rent to own homes in Katy TX. The city gets little or no snow each year, which many people appreciate. During the summer, highs are usually in the 90s, while lows in the winter average in the low 40s. Although the humidity is often high in the hotter months, many people enjoy the sunny climate and the higher than average rainfall that the area boasts.

Benefit #5 – Steady Home Values

Since the pop of the real estate bubble several years ago, home values have been plummeting in many areas in the country. However, Katy is still enjoying steady home values that have only fallen a slight amount. Homes are a bit more expensive than other areas of Texas, but compared to other areas of the country, they are still reasonable. Since home values are holding steady, many people are willing to invest in these homes and the market continues to see movement.

These are only a few of the location benefits that make rent to own homes in Katy TX appealing to many homebuyers. With a growing economy, available jobs, great public schools and steady home values, it’s easy to see why many people consider relocating to this area. The nice climate is just a bonus.

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