real estate

7 steps to a great foreclosure buy

Verify the neighborhood aids appreciation
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"A good neighborhood supports your home value over time," says Lewis. How do you determine that?

In addition to scouring the neighborhoods for well-kept yards, easy access to shopping and short work commute times, look at school scores, says Lewis. "A good school district will usually help housing hold its value over the years."

Check out the number of foreclosures in the neighborhood as well. "If there are a lot of homes in one neighborhood that are in foreclosure, be wary," says Jim Mazziotti, broker/owner of EXIT Realty Bend in Bend, Ore. "Values may still be declining there."




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