Forclosure Homes Outpacing Sales In Some Parts Of Country
I knew the level of forclosure homes was still increasing, but according to the New York Times forclosure homes even outpaced sales in some areas.
Here is what the New York Times had to say about it:
“During January, it was reported this week by RealtyTrac, there were 153,745 initial foreclosure notices sent out in the United States. That dwarfed the 43,000 total sales of newly built single-family homes and amounted to nearly half the total sales figure, which includes sales of existing homes and condominiums.”
While this number of forclosure homes is giving sellers a major headache right now, there are bunches of investors everywhere trying to buy these properties from the banks. The banks are taking major loses just to get rid of houses they do not want to keep.
You can read the entire article here:
NY Times Article
Craig Garcia is a Mortgage Lender and Real Estate Investor for over 10 years. He helps investors buy forclosure homes with little or no money out of pocket by working with Private Lenders. Click here to find Foreclosure Homes in your area - Free Search 1000’s of Bargain Homes! For more information on finanacing forclosure homes - Use Private Lenders.
