Pent up Foreclosures Huge Opportunity to Buy Undervalued Real Estate

RealtyTrac reports that $134 billion in adjustable rate mortages will be resetting to higher interest rates over the next two years. Foreclosure filings rose 23% nationwide in the quarter as compared to the same quarter a year ago. Sequentially the increase was 5% compared to second quarter of this year.

The top 5 states for foreclosure in 3rd quarter are:

1. Nevada

2. Arizona

3. California

4. Florida

5. Idaho

These foreclosures provide great opportunities for buyers of homes to live in or for investment purposes.  The people who should take advantage of this opportunity are long-term investors – the ones who are experienced landlords or outsource property management to property managers and can hold properties for 7, 8, or 10 years.

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Tags: Landlord, online property management, Property Management, Property Management Software, Property Manager, property managers, rental property, rental property management

This entry was posted on Friday, October 23rd, 2009 at 2:04 pm and is filed under Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed.