Foreclosure Homes for Sale: Why the Time to Buy is Now, Especially for First-time Homebuyers
In the Epoch Times article, First Home Buyers Out in Droves, Foreclosures Snapped Up, Peter Flint, the founder and CEO of multi-listing site Trulia.com states:
Foreclosures are at the heart of the housing crisis . . . Consumers are more interested than ever in buying foreclosures . . . First time home buyers have some money, have stable jobs, they have been sitting on the sidelines waiting. This is a way for them to get on the first rung of the housing ladder.
First-time Homebuyers Snapping Up Foreclosure Homes for Sale
The Effect of the Obama Administration’s $8,000 Credit for First-Time Homebuyers
Truer words have never been spoken than those by Mr. Flint. And, the government is incentivizing this mindset, offering an $8,000 credit to first-time homebuyers. This credit can be used in a number of ways, eg, as a down payment.
Housing experts say this is definitely contributing to the red-hot interest in foreclosure homes for sale.
Does This Mean that the Foreclosure Crisis is Getting Better?
While interest in foreclosure homes for is up, the market is still being flooded with them — and will be for some time to come – as discussed in the post, Bank-Owned Foreclosures Mounting: 600,000 to 700,000 Still Not on the Market.
Foreclosures are Selling: What This Means for Foreclosure Clean Up Companies
Many enterprising entrepreneurs are have started foreclosure cleaning business, or are thinking about starting them. What this means for foreclosure cleaning companies is quite simply, more business. Why/how?
Many foreclosures are sold “as is”, which means they still have to be cleaned, cleared, repaired, painted, etc. And, new homeowners are overwhelmed enough. The vast majority are neither equipped to tackle these jobs themselves and/or don’t want to. So, they hire full-service foreclosure cleaning companies to do the work.
And, even if a foreclosure home for sale is not sold “as is,” it is the seller (ie, bank/lender) who will have the property cleaned and readied for its new owners. Again, they pay full-service foreclosure cleaning companies to do the work.
Foreclosure Cleaning: Why It’s An Evergreen Business
And, this is why real estate services companies (which is what a foreclosure clean up comapny is ) is such a good business. No matter what the economy at large is doing, homes are bought and sold every day. And, when it needs work, real estate clean up companies are needed.
It just so happens that foreclosures dominate the news now, so this is why so many focus on “foreclosure cleaning.” But, a property is real estate. And, real estate needs are consistent and ongoing — things get broken, yards need to be cut, walls need to be painted, floors need to be repaired, properties need to be winterized, locks need to be changed, pools need to be drained, etc.
All of these are real estate services — services that just happen to be provided by the red-hot “foreclosure cleaning companies” now. So go ahead, get in while the sector is sizzling, knowing that you have a business that can withstand good and bad economic times.
P.S.: Learn now to buy foreclosures cheap — as cheap as $45/month — really!
Copyright © 2009 Yuwanda Black for Foreclosure Business News