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Distressed Homes Open a Flood of Bargain Opportunities

The very low prices of distressed homes in the U.S. are changing the profile of home buyers and real estate investors. With so much bargain deals available, even those who have never been traditionally categorized as potential homebuyers are entering the market and making offers on residential properties.

Distressed Homes Open a Flood of Bargain Opportunities

The buying frenzy, which has been building since the middle of 2011, is on course to continue all throughout 2012 and even as far as 2014, if predictions from analysts are to be believed. One thing is for sure though; the market may never be as friendly to buyers as it is right now.

Cheap Prices Motivating Buyers and Investors

The momentum has started building in 2011, with sales surging in most areas of the U.S. compared with 2010 figures. Nearly all segments of the real estate market recorded strong sales numbers last year, with vacation homes and investment properties posting their biggest sales since 2005.

For 2012, predictions of bigger sales are expected to materialize as pending sales rise in the first few weeks of the year. In several markets, inventories of residential properties are dwindling as buyers eagerly purchase low priced real estate.

Hard-hit Areas Showing Some Life

Florida and California continue to rack up sales and analysts believe that Nevada, being the hardest hit area in the whole country, is starting to catch up. Figures for February 2012 showed that Las Vegas recorded its highest residential sales figure for this particular month in six years, surging by 5% month-over-month and rising by 8.9% year-over-year.

Interest from buyers is being fueled by the bargain prices of distressed properties for sale and the fact that they have become affordable to nearly every type of consumer. Experts predict that sales will continue to rise in the coming few years, with traditional buyers being joined by non-traditional ones. A recent study has actually made the forecast that Hispanics will be some of the busiest buyers in the real estate market in the next two to five years.

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