I have been noticing some benefits for the neighborhoods that have foreclosed properties. I know you are asking yourselves, benefits? Yes, properties that were brought with no down, hardly able to make the payments and nothing left over for upkeep, are now being turned around. Not all neighborhoods had this happening but in the lowerest priced detached homes this was true. I am seeing the type of clients buying, that want a home, are looking to stay there and build something for themselves. Some investors a picking up these houses at the auctions and with paint, cleaning, and repairs they help the whole neighborhood look better. Prices will do better as the neighborhoods recovers.
I am now recommending areas, that last year I would of told my clients to stay away from. The type of buyers will make the differences.
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