Jan and Jason Augenstein of Enon have been in the housing market for five years. They purchased a foreclosed property for $68,000 and with many upgrades, the property is now for sale for $119,900.
Jason Augenstein of Koe Properties said, "There are lovely properties coming on the market and although when you do get the properties, you still have to bring them up to buyer's standard because it's a very competitive market right now."
In fact, experts said there are a lot of good properties for sale right now, but you still have to be careful if you are buying a foreclosure.
Jason Augenstein said, "Because we actually have a system of what we do in staging, landscaping. It is not just picking up a paint brush and repainting it."
Is the market really that good for foreclosures? Roger Baker, President of the Springfield Board of Realtors said it can be good under the right circumstances.
"There are some good deals in the market. Housing stock is out there at the right price if they have the availability and desire to go after it," said Baker.
The Augenstein's said it took them about a month to complete their home's makeover and they are hopeful that they will sell it quickly and that the local economy will continue to improve.
Jan Augenstein said, "I think it's going to be a two year turnaround until things come back in price. Things are so suppressed right now. That's why if you have the money to buy a house right now, it's a great time to do it."
Local housing experts said if and when the economy improves and more money is available for home loans, this segment of the market may get even stronger.