Foreclosures are up in late summer of 2007 and probably will continue well into 2008.
Why? Borrowers simply bit off more than they could chew and overextended themselves.
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Low interest ARMs and interest only home loans allowed buyers way more house than they could handle - as they found out or will find out when their initial loan term comes due and the rate adjusts up - expect a flood of foreclosures.
That's what happens when you gotta "keep up" and pretend you can afford something you can't.
Why Buy Foreclosures?
Average people who are learning the foreclosure market are making huge profits.
This is no time to ponder ethics - most borrowers should have seen this coming but were blind to the financial, rational truth. Foreclosures represent a business opportunity for savvy buyers to seize property at amazingly low prices and then convert.
Some more reasons to consider learning the foreclosure business...
Not Difficult to Learn - There are many good sources to learn the art of buying and selling foreclosures - see website at bottom of the page.
Prices are Low / Profitability High - many of the foreclosures sell way below their true market value 20% to 50%. Foreclosures are always priced lower than normal real estate. These properties are easily turned around as resales or rentals.
Great for Fixer Uppers - Many of these homes need only quick and minor repairs. Significant profits can be made after a small amount of sweat equity is invested. Many times things like drywall patching, re-painting, minor landscaping etc.. Consider sweat equity against your profit margin - you may be surprised.
No Move in Delays - many times the foreclosed homes are vacant - making resale or renting revenue possible soon after closing.
Lower Closing Costs / Flex Financing Because banks don't like to hold onto assets like homes, you may get great terms regarding lower down payment requirements, closing costs and all other miscellaneous costs associated with the home purchase. The seller who holds a foreclosed property typically has a strong motivation to sell the property. Anticipate flexible financing terms as sellers are usually in a hurry to get rid of foreclosure properties.
These are a few reasons that may excite you about learning the foreclosure business. If you are into learning a business process that requires learning some basic real estate skills along with the benefit of unlimited earning potential look into the foreclosure business.
Buying Foreclosure Property - Seize The Opportunity For Profit
Gain financial freedom by learning the foreclosure business the RIGHT WAY - Visit: Foreclosure Training These are the best foreclosure training programs available today.
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