{"id":28099,"date":"2026-07-17T15:15:36","date_gmt":"2026-07-17T22:15:36","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=28099"},"modified":"2026-07-17T08:07:28","modified_gmt":"2026-07-17T15:07:28","slug":"foreclosures-provide-an-affordable-option-with-patience-preparation","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2026\/07\/foreclosures-provide-an-affordable-option-with-patience-preparation\/","title":{"rendered":"Foreclosures Provide an Affordable Option with Patience &#038; Preparation"},"content":{"rendered":"<p style=\"text-align: justify;\">There\u2019s a type of home on the market that could save you nearly 30% of its original listing value in 2026. Realtor.com\u2019s new report looks into foreclosed homes\u2014and as they\u2019re lowering in price, these listings are also rising in popularity with buyers. So far, they\u2019ve also been netting over 26% more page views than the average listing in 2026, which isn\u2019t surprising, given their lower-than-average prices.<\/p>\n<p style=\"text-align: justify;\">If you\u2019re thinking about taking advantage of these types of deals in 2026, here\u2019s what you need to know.<\/p>\n<p style=\"text-align: justify;\"><strong>Why are Foreclosed Homes So Much Cheaper?<\/strong><\/p>\n<p style=\"text-align: justify;\">It might seem a little strange that foreclosed homes can net you savings of over 20%. The good news is, these low prices aren\u2019t necessarily because there\u2019s something wrong with the home\u2014in most cases, the lender is offering a discount in order to sell the home faster.<\/p>\n<p style=\"text-align: justify;\">The foreclosed homes you see on the market have already failed to sell at auction. When this happens, the home usually moves to a Multiple Listing Service (which includes platforms like Realtor.com). Then, you (or your real estate agent) can look at the listing and see if it might be a good fit. The longer a lender owns a foreclosed home, the more costs they incur to keep it. Therefore, they want to sell it as quickly as possible. Once it hits the MLS, it\u2019s prime time for you to score a discount.<\/p>\n<p style=\"text-align: justify;\">The foreclosed homes you see on the market have already failed to sell at auction. When this happens, the home usually moves to a Multiple Listing Service (which includes platforms like Realtor.com). Then, you (or your real estate agent) can look at the listing and see if it might be a good fit. The longer a lender owns a foreclosed home, the more costs they incur to keep it. Therefore, they want to sell it as quickly as possible. Once it hits the MLS, it\u2019s prime time for you to score a discount.<\/p>\n<p style=\"text-align: justify;\"><strong>The Potential Downsides of Buying A Foreclosed Home<\/strong><\/p>\n<p style=\"text-align: justify;\">That\u2019s not to say that foreclosed homes don\u2019t come with issues of their own. If the home needs extensive repairs, you\u2019ll likely need to take these on yourself, which means, after shelling out for a remodel, your initial discount may not be quite as hefty as it seemed.<\/p>\n<p style=\"text-align: justify;\">Realtor.com also points out some other statistics that might make it tricky for you to settle on a foreclosed home. The platform says that REO homes had 30.4% fewer photos and 33% shorter descriptions than your average listing, which makes it more difficult to determine if the home is worth a look. Rather than being able to identify dealbreakers from a listing alone, you\u2019ll need to dedicate more time to looking at foreclosed homes in person.<\/p>\n<p style=\"text-align: justify;\"><strong>Don\u2019t Discount These Discounted Homes<\/strong><\/p>\n<p style=\"text-align: justify;\">While purchasing a foreclosed home can seem daunting, it\u2019s still a great way to save money on a home in 2026. Realtor.com experts say that as long as you know what you\u2019re getting into, looking into foreclosed listings in your area is a good way to go.<\/p>\n<p style=\"text-align: justify;\">\u201cIn a market where affordability is still the dominant challenge, foreclosures offer a path to a meaningful discount,\u201d said Joel Berner, Senior Economist at Realtor.com, in a press release. \u201cThe process takes patience, but for buyers who are prepared and can navigate the challenges of buying this type of home, the savings are real.\u201d<\/p>\n<p><a href=\"https:\/\/www.bhg.com\/foreclosure-prices-2026-12013362\" target=\"_blank\" rel=\"noopener\">Foreclosed Homes are Selling for Nearly 30% Less in 2026 &#8211; What Buyers Should Know?<\/a> by Sophia Beams | Better Homes &amp; Gardens<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There\u2019s a type of home on the market that could save you nearly 30% of its original listing value in 2026. Realtor.com\u2019s new report looks into foreclosed homes\u2014and as they\u2019re &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2026\/07\/foreclosures-provide-an-affordable-option-with-patience-preparation\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-28099","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Foreclosures Provide an Affordable Option with Patience &amp; Preparation &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2026\/07\/foreclosures-provide-an-affordable-option-with-patience-preparation\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Foreclosures Provide an Affordable Option with Patience &amp; Preparation &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"There\u2019s a type of home on the market that could save you nearly 30% of its original listing value in 2026. 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