No one seems to know exactly where the bottom of the real estate market is these day and it's no wonder, as each market area is uniquely different. So there will be areas in the United States where the number of foreclosures will spike pretty high and other areas where there won't be much change.

But no matter what the geographical area, some foreclosures will take place and it might mean a bargain for a buyer. Below are three key points that everyone needs to keep in mind if they are considering buying property that is being foreclosed on:

Foreclosure in Humboldt County Three Key Points to Remember

1) There are bargains out there. Nearly everywhere foreclosures happen .. yes, even Humboldt County has has foreclosures. But usually these properties now belong to a lending institution and they set the foreclosure price. Some foreclosures are over-prices, some are just right, and sometimes a foreclosure can be under-priced.

2) Market principals still apply even when buying a foreclosure property. The market principles of real estate are generally find the deal that meets your needs, get professional help to make a solid offer, and then negotiate a deal. A realtor is trained to do real estate negotiations and closing the deal often is contingent on these skills.

3) Location, Location, Location. You want to find the best deal you can and sometimes it might be a foreclosure -- but it must past this test: is it a good buy for today? is it a good buy for the future? Some foreclosures are located where they will never be a good buy -- not today -- not tomorrow -- not ever. But how do you know? The Realtors at Benchmark Realty Group are experts at real estate analysis. We know what neighborhoods are going up or down. Where business areas of the future are going to be -- we know the history of neighborhoods, streets, sub-divisions and we can help you to see if a foreclosure property can pass the location test.