This may be good news for the housing market. The glut of vacant homes in some areas has exacerbated the ongoing problems facing all segments of the market. Unfortunately, this only applies to homes that are occupied by renters at the time of a foreclosure - so only investor owned homes are affected. I'd like to see it expanded to put renters in most foreclosed/vacant homes whether currently renter occupied or not. In some cases perhaps the very people being foreclosed could be kept in the home.
It is unclear how this policy will affect the marketing and sale of these homes. If they will be kept off the sale market it will reduce the inventory of homes for sale and help firm up prices.
For those who have a real desire to own a home , have good credit and want help with the search, the process and especially negotiating the purchase, I'm available. My speciality is discovering financing options and negotiating purchase price and terms as an advocate for home buyers. Each home of interest requires analysis.
My primary service area is Camden, Burlington, and Gloucester counties in Southern New Jersey.
Paul Howard, Broker
Cherry Hill Nj 08002
MEMBER: NAEBA (National Association of Exclusive Buyer Agents www.naeba.org )
Either I have smarter than average buyers or I am a smarter than average broker - or both. Either way, I help home buyers get more for less.