BOSTON ( MainStreet) -- With more than 1 million U.S. homes in some phase of the foreclosure process, great deals abound -- if you know how to separate the wheat from the chaff."The No. 1 reason to buy a foreclosure is the potential for a good bargain," says Daren Blomquist of RealtyTrac.com, which follows the U.S. foreclosure market. "Distressed properties have always come with a built-in discount -- even before today's foreclosure crisis."
|Would-be foreclosure buyers should tread carefully, since properties are typically sold "as is."|