Despite my recent blog posts, Birmingham area foreclosure rates are rising as published in the Money section of today's Birmingham News. Click here for a direct link to the article METRO FC'S RISING. While this is certainly not good news for sellers in the area, it could represent a buying opportunity for investors and owner-occupants alike.
Given that Birmingham area foreclosure rates have performed strong relatively on the national level over the past 2 years, it is a little surprising at first glance that foreclosures are continuing to rise even now. But with the unemployment picture, it should come as no surprise. For detailed information regarding foreclosures in a particular area, you may email me at sold@markcrain.com or visit www.markcrain.com and click on one of the more popular links on my home page.
Investors are needed to absorb this new inventory of foreclosures so if you are interested, please see some of my earlier blog posts regarding the process for buying these homes or go to buying a foreclosure. There are many things to consider such as the right of redemption, inspection and financing issues so it pays to do your homework in advance. Otherwise, someone has to ultimately buy these homes so putting some time and effort into the process, combined with a good realtor and some hard-earned capital can potentially earn big rewards in a few years when the market rebounds!
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