Also in August, the median home price sold in the area was $135,500, a drop of 2.4 percent compared with the previous month’s $138,800. The median price in August represented a 36 percent drop compared with the same month last year.

Sales of condominiums, town houses and homes dropped to 4,039 in August compared with 4,602 in July. Sales of town houses and condominiums dropped to 810 or 6.3 percent in August while the median price declined to $66,288 or 1.1 percent.

Las Vegas foreclosure homes accounted for almost 70.5 percent of the total home sales in the area in August. The figures represented a decline from previous months. According to industry experts, the August figures indicated that demand is high for foreclosure properties. Last month’s sales were higher by 27 percent compared with the same month last year.

Statewide, Nevada is still the foreclosure capital of the United States last month, with foreclosure filings totaling 17,902, a decline of 8 percent from the previous month but higher by 53 percent compared with August 2008.

Aside from the 27 percent increase in home sales last month, condominium sales also rose by 110 percent. Meanwhile, the total value of properties sold last month dropped by 16 percent to $531 million compared with the same month the previous year.

Condominium and town houses sold last month had a combined value of about $77 million, a jump of 22 percent compared with August of the previous year. By August 31, there were 20,999 houses and 5,508 townhomes and condominiums available on the market, an increase of 2 percent from the previous month.

For homes that do not have contingent or pending offers, August figures showed that 8,579 houses and 2,545 town homes and condominiums are available on the market. Furthermore, available properties have median prices ranging from $30,000 to $185,000, which are higher than the combined pending and contingent sales.

In Las Vegas, there were 14,940 total foreclosure filings last month, over 6.7 times higher than the national foreclosure rate.

Don’t take my word for it; here are ten reasons why people move to Naples.

1. The beaches. Seven miles of white sandy beaches along the Gulf of Mexico make Naples’ beaches some of the best in the world. Choose a public beach park, or find your own secluded stretch of paradise, spread out a blanket and watch the dolphins swim by.

2. Attractions. Naples has close proximity to dozens of local attractions. You could spend the next year getting acquainted with the different sights and sounds Naples has to offer and still not see everything.

3. The Wildlife. The Everglades and 10,000 Islands provide endless opportunities for bird watching and wildlife viewing via hiking trails, canoe, or kayak. Get up close and personal with dolphins, alligators, manatees, and dozens of species of birds. A trip to the Naples Zoo at Caribbean Gardens provides a unique opportunity to view exotic animals in a historic garden setting.

4. The Golf. Naples has over 35 golf courses, all only minutes away. In fact some of the most beautiful homes in Naples are located alongside sprawling fairways, just waiting to be played. Choose from private or public courses with some of the best instructors available. The best part, most courses are open 365 days of the year.

5. The Shopping! Once you’ve experienced the shopping scene in Naples, you’ll never crave Rodeo Drive again. Stroll along Fifth Avenue and Third Street South to experience the one-of-a-kind boutiques, galleries and clothing shops. For upscale designer goods, visit Waterside Shops or Venetian Bay. If you’re looking for bargains, Prime Outlets with over 40 stores is sure to fit the bill.

6. Art & Culture. Most people don’t think of Naples as an outlet for the arts, but that couldn’t be further from the truth. In fact, American Style Magazine named Naples one of the top 25 Arts Destinations in the U.S.

Visit downtown Naples to view local and international works of art at the Naples Museum of Art, or over 90 local galleries. The upcoming Children’s Museum of Naples will feature hands-on exhibits illustrating everything from a “Journey Through the Everglades” to an adventure at the beach. For music, the Philharmonic Center for the Arts is a world class concert venue, and the city hosts numerous events and art festivals throughout the year.

7. Boating. You can spend hours on the Gulf of Mexico fishing, sailing, and exploring outlying islands. For fresh water lovers, there are some gorgeous inland lakes for boating and water sports. You can even choose from waterfront communities that include your own docking facilities.

8. Naples Real Estate. There are few areas along the coast that combine the variety of housing styles and neighborhood choices that you’ll find in Naples. The selection is immense, with options to suit just about every lifestyle. Choose from waterfront or beachfront lot or views, lakefront property, gated communities overflowing with amenities, and over 75 golf course developments. Whether you’re looking to spend $200,000 or $20 million, Naples real estate has something for everyone.

9. Fishing. Even the most enthusiastic fishermen will never get bored trolling the waters off Naples. Although there are many options for deep-sea fishing adventures, the inshore fishing is also popular. For something completely different, take a kayak fishing trip through The Everglades. Spend the day fishing and exploring the islands and then get transported back via motor boat.

10. The Weather. Naples is a tropical paradise where sunny days and warm breezes are the norm. You can expect the occasional shower, but they rarely last long. Expect temperatures in the mid 60’s from January through March, and the mid 80’s from June through September.

As you look for a home it is important to not rush. You may see homes coming on and off the market quickly because they are priced right and in desirable neighborhoods. You may feel like you are missing out and think you need to “hurry it up.” Don’t be hasty, you may make a decision you will regret later down the road. Settling for a home that doesn’t have all the things you want in a home can make life a bit uneasy, especially if you have to come home day-after-day and deal with the things you don’t like.

Also remember that there is no such thing as a perfect home. You can weed out the homes that don’t meet your criteria but you will never find the “perfect home.” It is important to know what you want in a home, presently and in the future. Buying a small 2 bedroom home with 1 bath might be okay for a starter home but what happens when you have children? You may have to move your office or sewing room to the garage to make room for the new baby. What if you have older children, is having 1 bathroom really going suffice for the whole family? Keep in mind when buying a home what you need, what you want, and what you don’t want. Make a list and give it to your realtor so they can screen properties in your area.

It is essential that you know your price range so that you will have an idea of the financing you will need. You have to assess the amount of property you can purchase because this will greatly affect your financial state in the future. If you made a mistake, you could end up facing foreclosure issues and worst, end up bankrupt. Keep in mind that if you purchase a property, you should consider other expenses. You have to pay the bills and settle unexpected repairs. Here are some guidelines you can use:

1. Determine the value of the houses today. You can find out about this through the local papers. You can also visit different real estate sites. Once you have it, look for the property you will most likely buy. How much does it costs? After that, identify the 80% of the value. This is the case because most lenders would require a 20% down payment. Pick different homes with various prices so that you will have options.

2. Using the value you have generated, find out the mortgage payment it will require. You can use online calculators or software intended for this. You can also call lenders and ask their estimates for the amount you have determined.

3. Once you have a rough estimate of the mortgage payment, remember to add other values needed for the purchase. These are taxes and insurance such as the Private Mortgage Insurance or the PMI. You will incur these expenses when you purchase a property. There are utility costs as well. Ask your family or friends about the amount they are paying for this so that you will have an idea. You can also contact a real estate agent to ask for a more accurate estimate.

4. There are also maintenance concerns you have to deal with. So remember to include that in your budget. Determine this by multiplying the value of the property by 1%. When you have the result, divide it by 12. That will be your budget for the monthly maintenance repairs. In addition, you also have to include the values for home improvements such as furnishing and landscaping.

5. Once you have collate all the expenses you will incur each month, compare it with your monthly earnings. If the value is less than or equal to the 40% of your monthly income, the property is within your budget.

You have to know how much property you can afford before considering property to buy. Through this, you will know what property to purchase. This will also prepare you with expenses you have to deal with once you purchase a house.

Among the foreclosed properties to be auctioned off are condo units, single-family homes, townhomes and multi-family properties. Some of the properties will be offered for bidding from as low as $4,000. Most of the foreclosed homes are in the price range of $50,000 to $150,000 and most of them are located within the city of Chicago. The other houses are located in the suburbs.

According to the auction firm, the September auction offers great home buying and investment opportunities for investors and first time home buyers because of the low prices and good locations of the properties. Many of the houses to be auctioned off are priced around 50 percent below their price levels during the housing boom.

Investors or second-home buyers can find properties that they can rent out and start their rental business. With government home buying programs still available, they can acquire Chicago foreclosure homes for sale not only at low prices but acquire them while mortgage rates are low and while the federal tax credit program is still offered.

Prospective bidders are advised to register on auction day at the McCormick Place Convention Center. They can also view and inspect the properties in advance by contacting a listing agent.

Meanwhile, according to a real estate research firm, there are more than 8,000 foreclosed homes in Chicago as of the second week of September, based on multiple listing services in the Chicago metro area. More than 23,100 houses are being offered for sale across the city, with resale homes comprising 65 percent of total homes for sale. More than 15,100 existing homes are being offered for sale. The researchers said they gathered their data from MLSs only.

The researchers also reported that the average estimated price of a house in Chicago as of August was $279,068. They added that homeowners can use this price level as basis for determining their sales price or their current home equity. They also reported that 38 percent of all residential properties in Chicago are occupied by homeowners while 50 percent are occupied by renters. The rest of the properties are vacant.

Foreclosures have also been on the increase due to the increase in the demand of housing in the recent past. This has made most of the housing institutions to increase their prices to make more profits. Since most of the people in the world do not have enough money to build their own houses or to buy, they take up mortgages hoping that they will be able to pay the whole amount. A few months down the line they realize that they have many commitments that need money hence they cannot afford to continue paying the mortgages. They are thus forced to move out of the houses and this has been happening in most parts of the world.

Foreclosures have also been experienced as a result of the increase in population and the poor economic status of the countries. Due to this reason, many countries are unable to provide adequate housing for their citizens and since the citizens have to look for their own housing, they settle for a mortgage and when they are unable to pay the mortgage, this results to a foreclosure. There has been an alarming increase in the number of foreclosures more so in the United States and most of the areas in Europe where the economies have been experiencing a downward trend in the past few months.

Foreclosures are preferred by most of the people who are moving out of college hostels after they graduate since they are cheaper. The graduates take up a foreclosure in groups and this way, they reduce the burden of payment of the mortgage installments. The quality homes that are very expensive to buy or build are also preferred when they are foreclosures since they are more affordable. This makes most of the rich people to look for foreclosures instead of buying foreclosed houses.

The other people who benefit from foreclosures are the financial institutions since they are always getting people who want to apply for loans to take up foreclosures. Some of the financial institutions link up with the real-estate agents and when a client registers a house as security and they are unable to pay a loan, they are sent out of the house. The financial institutions then sell the houses to the housing agents who will give it to another client mostly as a foreclosure depending on the current state. There are many foreclosures that are there nowadays hence getting one is an easy task.

When a homeowner is unable to pay his mortgage amount the property is taken over by the lender and sold at a public auction as a foreclosed property. In some states in US the local county sheriff is in charge of managing such an auction which is therefore popularly known as sheriff sales.

Benefits of sheriff sales foreclosures

Buying a foreclosed property through county sheriff sales has some great benefits:

• Great bargain – One of the best benefits of buying a property through sheriff sales foreclosure is the reduced bidding prices which sometimes go as low as nearly half of its actual value.
• Power to decide your own price – The unique feature of bidding through sheriff sales foreclosures is the fact that you can assess the property and decide your own price based on your budget and the property value.
• Direct purchasing – By bidding at an auction for a property of your choice you do not have to deal with any middlemen and spend money on agents.
• Low risks – The properties sold through county sheriff, sales foreclosures are cleared of all back taxes which make them a very safe and secure purchase.

Important tips

You can look up information on foreclosed properties being put up on auction by visiting various online real estate websites as well as the county office.

Most auctions are advertised well before time which can give you enough time to do a thorough
back ground check of the neighborhood and the local infrastructure.

Before taking part in a public auction always check the property in order to evaluate its real value and estimate a suitable bidding price.

Searching the internet specifically for states that carry out foreclosure auctions, for example Ohio under the jurisdiction of the local sheriff is a good way to find information on the latest sheriff auctions.

Always keep yourself updated on the auction process in order to know about any last minute venue and date changes of the sheriff sales foreclosure.

One of the building materials that they discovered was used shipping containers; in many parts of the world makeshift dwellings had been made out of these large metal boxes previously but no one had really played with the idea of using them to design a house with all the amenities of home before.

Shipping containers come from anywhere that ships large quantities of goods; the containers are pre-packed then put on boats and/or trains and the goods are delivered all over the world. Due to the expense of shipping the used empty containers to locations that need them from locations that don’t, sometimes they end up just sitting around empty. It is reported that it can cost more to ship a used empty container than to just buy a new one!

Due to the materials used to make shipping containers, they can be easily recycled into new containers and other steel items, but using them “as is” to build homes can save energy as well as recycle the materials. There are a number of concerns that some people have about these container homes but there are also many advantages as well.

Some container home naysayers say that a container home is nothing more than a do-it-yourself mobile home and would rather not see their ugly construction in their towns and cities. However, other than a similarity in the size and shape of the basic building block of a container home, and the industrial-feel of it’s steel sides, there really is no comparison between the two.

A mobile home lacks the hardy construction of an all-steel shell and the stackabilty of the engineered container building block. Whereas the mobile home is rather dangerous in a high wind-speed storm, the container home is more than strong enough to withstand the high pressure. Buildings constructed out of shipping containers have a modern building block feel to them, often reminding an observer of an oversized Lego structure.

Shipping container homes can be made “from scratch” if you want to design your own home, with pre-designed plans, or pre-fabricated; it’s all up to you. They are generally fast to install, mould-free and termite-proof. Some pre-made varieties are also designed to work completely off-grid so that they are ideal summer cabins or homes for people who want to live in nature.

Container homes may just be the option that many people could benefit from in these tough economic times; however, with the problems in some areas to allow permits for alternative types of housing it might be a while before they’re available as widely as they could be.