Montgomery Foreclosures - Buying Property Now

Buying Montgomery foreclosures now is smart. Today the interest rates on mortgage are low and the prices of homes, bungalows, manors, estates, etc have dropped. On a $100,000 home, you will pay below $400 on mortgage payments alone and the interest rates are well below 5 percent.

Buying Montgomery foreclosures can save you loads of cash. If you are buying foreclosed homes as an investment and to make money in renting, thus now is the time to start spending. You can save 20 to 50 percent on foreclosed property around Montgomery, which means you can rent the property to make your money back quickly.

Recently, news stations online reported that Montgomery residents are part of the crowd of people losing their homes to foreclosure. Yet Montgomery seems to be in better shape than some of the other states, like California. In Montgomery only one of every 519 people are losing their home to foreclosure. Alabama foreclosures is currently ranked the 42nd on the list of foreclosures.

This is perhaps because the economy is in better standings, since the industries are strong and the economy is growing. People do not have to worry about saving 1 percent because the average sales on homes are below $150,000. Lenders in Alabama also work hard to help people keep their homes rather than wait until the last minute and repossess the home. Thus, the number of foreclosed property is not succeeding the number of foreclosure property in some of the other states.

Right now, those who buy homes or commercial property in Montgomery can save up to 20% on estates, manors, bungalows, and other property. In February, foreclosed sales estimated to 146, average sales were slightly over $209 thousand.

In Montgomery, around 200,000 people live in the area. Most of the median population makes over thirty-five grand. This probably explains why over 600 properties are on the Montgomery foreclosures list. Real estate agents, investors, and many others are searching for property through the Montgomery foreclosure list, so if you are looking for property it pays to start looking now since you may lose out on some fabulous deals. Investors know how to shop, and they will often look for outstanding deals on foreclosed property and they will buy them out before the next potential client arrives. The latest news as of April 06, 2009 is that there are 69 Montgomery Foreclosures that have been added to the existing list of foreclosures.