When searching for an affordable home, it helps to look for foreclosures. Because of their reasonable prices, foreclosure opportunities that pop up can quickly sell, so keeping an eye on communities you are interested in can help you catch a good deal when it’s available, especially if you are interested in purchasing a foreclosure to flip and sell or rent out. After the recent interest rate increase and with more expected interest rate rises over the next several years, the number of available foreclosures is expected to increase, so consider foreclosures in these desirable Calgary neighbourhoods.
Calgary Foreclosure Potential In Inner-City Communities
Capitol Hill
The community of Capitol Hill pairs quiet residential living with quick access to the downtown core and great amenities including the Southern Alberta Jubilee Auditorium, Southern Alberta Institute of Technology, and the Alberta University of the Arts. Finding foreclosures in Capitol Hill is a great opportunity to rent out the property to students or to purchase for those who want easy access to downtown with the benefits of a quiet residential neighbourhood.
Crescent Heights
Crescent Heights is one of Calgary's oldest communities and is prominently residential, although there are plenty of cute coffee shops, local restaurants, and specialty stores that make this area highly desirable for family living. This area also offers easy access to downtown, especially for those living in the southernmost part of this neighbourhood. Any Crescent Heights foreclosures are an ideal purchase for a family or for those looking to partake in an area with a diverse demographic with an abundance of amenities located nearby. Because some of the buildings are older, these properties also offer great opportunities to renovate and sell. To learn more about this community, read Top 3 Reasons To Purchase A Home In Crescent Heights, Calgary.
Tuxedo Park
Tuxedo Park is a quiet community with ample green spaces nearby for families to enjoy, and for the golfers in the family, The Winston Golf Club, and Fox Hollow Golf Course are only a short drive to the east. A Tuxedo Park foreclosure is the perfect opportunity to either flip and sell or to purchase as a place to live when you’re ready for a quieter life or you want green space for your little ones to explore.
West Hillhurst
This relaxed and quiet neighbourhood is close to several parks and green spaces. Built around one of the city's main thoroughfares, West Hillhurst residents can easily access communities and amenities to the south and west and escape the city easily for weekend adventures. West Hillhurst is perfect for young families and those who love the outdoors. Keeping an eye out for West Hillhurst foreclosures is ideal for young families looking to find a well-priced area with lots of space for the children to play and with several schools in the area, although a West Hillhurst foreclosure could also be flipped and sold to families looking to upsize.
Find Calgary Foreclosures With The Mel Star Team
If you are interested in finding foreclosures with great potential, partner with a Realtor® who is experienced with foreclosures. The Mel Star team knows the Calgary housing market and the Calgary foreclosure market and can inform you about available properties and advise you when to put in an offer. The Mel Star team of Calgary Realtors® has helped with the sale and purchase of thousands of foreclosures. Our team of expert Realtors® can help you find a foreclosure that suits your needs and we can expertly navigate the foreclosure contract. To find your next home, contact the Mel Star team at 1-403-861-9944 or fill out the online contact form.
FAQ
The bank wishes to sell the property as fast as they can to recuperate the lost money from the missed mortgage payments by the previous homeowner. This is often why foreclosure properties are listed for lower prices to attract buyers.
A foreclosure property is a bank-owned home that is for sale. The previous owner was unable to meet their mortgage payments, therefore the bank repossessed the home and is selling it to recuperate the money still owed against the mortgage. To learn more about foreclosures and how to earn a profit from them, read Do Calgary Real Estate Investors Need To Hire a Foreclosure Specialist?
When it comes to buying a foreclosure, there is no special training for Realtors®. Because of this, it is extremely important to have a Realtor® with extensive experience and the knowledge to increase your chances of obtaining a great deal and a property that suits your lifestyle.
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