Good news and bad news for the real estate market. The number of foreclosures i the U.S. reached an all-time high in August as reported by RealtyTrac. Further more, there is a massive "shadow inventory" - foreclosed homes held by banks that have not yet been put up for sale. According to RealtyTrac, only about 300,000 of the more than 800,000 foeclosures have made it to market.
The good news for real estate investors - there will be phenomenal deals available in late 2010 when many lenders will move that shadow inventory to the market. Record low investment mortgage rates and a wide selection of good homes will make it hard for buyers to stay out of the market.
If you are interested in buying a foreclosure, please go to www.TallaHome.com/invest to see a great selection of homes.
Get ready for a great opportunity to buy foreclosed homes at a time when lenders will be very eager to sell their Tallahassee foreclosures.
Call us at 850.445.2476 for a free First-Time Investor guide. We'll set you up with great foreclosure information!
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