I am often asked about the “hidden market” by buyers who feel like they keep missing out on buying foreclosed homes. This article does a great job explaining the NSP program and how it is benefiting buyers and communities. It also provides reference to where first time buyers are likely to find the best values, specifically where median home prices have been the lowest.
I was about to show a Bloomington foreclosed home this week when I learned it was purchased by an NSP. The home had reference to mold problems so perhaps it is best that a licensed contractor gets in and addresses serious problems in an experienced manner.