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There are lots of home foreclosures on the market waiting for new owners, whether they are purchased as investments or as primary or secondary homes. For people who want to retire or buy a second home in a warm weather climate, there is an abundant supply of distressed properties from which to choose. Las Vegas and Phoenix have been retirement mecca's for years and they have wonderful winters. Las Vegas is colder than Phoenix in the winter, so if you want the ultimate in winter warmth, choose Phoenix and the surrounding suburbs. You will find plenty of short sale homes, both in active adult communities and in normal subdivisions.
This real estate market will eventually improve, so if you invest in a second home now, use it gently in the winter, you might be able to sell it in a few years for a good profit, or keep it should you eventually want to retire in a warmer climate altogether. The summers in Las Vegas and Phoenix are hot, but everything is air conditioned, and there are swimming pools in abundance that take the edge off the heat. Both Las Vegas and Phoenix are fun cities in which to live, so if you have a desire to buy a second home in either of these cities, take advantage of the home foreclosures and short sale homes on the market now for a great investment.
