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Foreclosure Auction Omaha

Foreclosure Auction Omaha

Investing in real estate by targeting houses sold through foreclosure or at auction in Omaha may not be the best strategy. Real estate buyers often equate the words Foreclosure or Auction with Cheap. That is not always the case. During the great real estate recession lenders were inundated with  foreclosed houses. They chose to sell them quickly and cheaply to mitigate their losses. Buyers were not plentiful so they had little choice other than to discount the properties. However, once the recession ended and demand returned to the market, lenders quit giving away their REO (real estate owned). It makes little sense for lenders to sell foreclosure real estate for less than fair value.

Selling real estate at auction is usually expensive for the seller so that venue is avoided if possible. The bidding process at a well attended auction can be less than advantageous for value investors. For the most part auctions do not work well for residential real estate in Omaha. Most properties are sold through the multiple listing system.

Media hype has made buying and flipping foreclosed houses a popular pursuit. For investors that want to buy value properties there may be better opportunities than foreclosure real estate in strong markets like Omaha. Profits are not assured so make sure you know what you are doing or use a seasoned agent knowledgeable in real estate trends with a strong background in construction sciences. Most first time flippers flip at a loss, so do your homework. Visit our Buyers section for value added programs and information on investing in real estate.

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