Foreclosure and Short Sale Success
Posted by Tim McCrory on
Looks like we are finally going to see some warmer weather. This is welcome news. I'm not sure I've seen a winter this severe in my 21 years living on the Gulf Coast. Hope everyone is planning a Beach Getaway soon.
Before I discuss ways to be successful buying Foreclosures and Short Sales, here's a brief summary for 2009. There were 1,460 total foreclosures and 4,210 Notice of Default, the latter being a 168 percent increase over 2008. What's interesting is the dollar values. Total foreclosures amounted to $383 million and the Notices of Default have a market value in excess of $1.3 billion so there's plenty of Bank inventory coming in 2010. This appears to be grim news until you realize that in January alone over $114 million in property sales…
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