For the last few months I been attending many trainings on Short Sales and foreclosure alternatives so I can have a better understand on the process and can better serve my clients. On those classes I always get negatives like Short sales don't work, there are no foreclosures around, etc.
Curious and wanted to be more educated on what is going on in my areas I did some research and found it really interesting. Just in my town of Rosemead, there are at least 130 homes in trouble. 39 of them are in Preforclosure, 74 homes are going through the Auction process, and 17 homes got auctioned and went to the banks as BPO.
People around my area in Rosemead always think of me as one of the hardest and most active real estate agent, so imagine if I can get even 2 or 3 percent of the homes in trouble each month, that would give me an extra 2 - 3 homes month in just this area.
I don't just work in Rosemead so I did some research and found in the County of Los Angeles, there are about 54,882 homes in trouble. 18,576 of the homes are in Preforclosure, 28350 are set for the Auction process and 7,953 went BPO. Wow, imagine how much business we can get by just go out and do some work.
One thing that we need to remember is to try not to take advantage of the situation to make the most money but to help out homeowners who are in trouble and need our help.
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