buying a short sale, mortgage short sale

Okay, so you're one of those lucky folks who have managed to hang onto some money in these tough economic times and buying a short sale, or several short sale properties looks like a good bet for snapping up some property cheaply. But before you go for that mortgage short sale, you need to consider some of the pitfalls of buying a short sale property. First, you need to ask yourself if you know as much as possible about the area where you're buying that short sale? Are there a great many other properties for sale in that part of town? Are there any homes near there that have simply been abandoned by homeowners who could no longer afford their houses? What is the current average value of homes in that area? Are a lot of the homes in that area now rental properties? Before you take the plunge and go buying that short sale property you need to have solid reliable answers to all of those questions. If you have that information and you're satisfied with what you've learned, then and only then should you buy that mortgage short sale property.