NAR says 45% of sales where foreclosures and HUD homes sales last year. Wow, I have just begun to market the HUD homes in my area and it is drawing new buyers and investors everyday. I am going to ramp up my advertising and expand my area of HUD marketing to take advantage of the situation.
I believe the faster we get these foreclosures off market the faster we will recover the Real Estate market and the economy.
Foreclosures and HUD homes can be a nice way to grow your business and acquire new buyers.
I couldn't agree more! Get 'em off the market! While selling a HUD can be a pain in the butt at times, it is well worth the headaches, in my opinion. Love the 5% they will pay:)
Yeah Jim I agree. Get rid of those foreclosures will help everyone. And quickly
I agree that getting the inventory cleared would help. However, the recent "bail-out" for the banks makes it not very likely that they'll play ball on reducing prices.
The reason is they get to carry non-performing assets on the books at full value. They don't have to write them down to market. If they sell the properties, then they realize the loss and their books then look bad.
Here's a prime example of the government "coming to the rescue" only to shoot the hostages!
I wrote a post on this as well.
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