Price Differences Between Foreclosures and Non-Foreclosures
via zillow.com
Right now there are two markets for housing the regular (non-foreclosure) market and the distressed (foreclosure) market. The foreclosure market has distinctly different prices, requirements, and characteristics. If you plan on purchasing a foreclosure, it's important to remember that what may have worked in a regular/normal housing market may not apply today. For example, if you are purchasing a foreclosure, be prepared to use cash. Banks do not like financed deals.
