Foreclosures Offer Opportunities For Investors
”Foreclosure rates continue to climb in some states, which means more opportunities for people with money to invest,” says Hector Milla, editor of the BestFreeForeclosureListings.com website.
“The number of foreclosures is down in some places, but they are way up in other areas like Atlanta,” he said.
Foreclosure notices soared 59 percent in August from the previous month in the 13-county Atlanta metro area, setting a monthly record with 13,130 notices, according to the Atlanta Journal-Constitution. North Carolina also is setting a record pace this year for foreclosures and one in every seven homes in southern Nevada is in default.
Nationwide, a recent CBS News report predicted that the total number of homes in foreclosure will top 1 million by the end of the year as the weak job market causes more homeowners to default on their mortgages.
“This is terrible news for the economy,” Milla said. “But it also means that investors have great opportunities right now to buy foreclosed homes, especially with record low mortgage interest rates.”
With more foreclosed homes on the market, he said, lenders are more inclined to make deals at far below market price to get the homes off their hands.
BestFreeForeclosureListings.com is an online resource that provides the top listings of available foreclosed properties. One listings service is free while another offers a free 7-days trial.
The website is operated by Seochile, a website development and consumer research company.
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