Think you're in a buyer's market - think again!

Are you a buyer looking for a foreclosure? Are you one of the many who believe foreclosures are the bargains of the day. Think again!

When you make an offer on a foreclosure you have just entered a seller's market; you, the buyer have no control.

But wait, you say, I will get a great "deal" if I buy a foreclosure. Really??? How great is it when you are in a bidding war with 39 other buyers. Yes, 39. One foreclosure at this time has 40 offers.

When your agent comes back to you and says "they want your highest and best offer", you are now in a bidding war and if you want the home you better be prepared to offer more than asking price - which by the way is just a base price. It is not the end of the line price.

Do your self a favor. Listen to your REALTOR and shop for your home. Look for those motivated sellers whose homes have been on the market a year or more. You'd be surprised what great "deals" you can find with the everyday seller who can pay his bills but still wants to sell his home. Don't be like the 99% of buyers going straight to the foreclosure. Save yourself some time and heart ache by looking at all possible options.