Hawking of foreclosures in the United States
What has been one of the worst years in the mortgage industry has been a bonanza for some savvy investors. We have all heard and seen horror stories of families losing their homes, their jobs, their lives, and this is truly sad and heartbreaking. Saving all those millions of homes and jobs is something that the collective strength of an entire nation has not been able to accomplish. With that in mind, it’s relatively simple to see that there will always be those who take advantage of the misfortunes of others. This will not change and is why foreclosure hunters sometimes get a bad rap.
The truth about “foreclosure salesmen,” as they are called in the Deep South, is that they are just opportunistic entrepreneurs looking for a deal. If we look at them as nothing more than the average seller in the real estate market, then the view begins to alter. You must ask yourself the question that entails what would you do if you had the same opportunity? There’s a good chance the sale will go through and the distant memory of the family that previously owned the house before they took over the foreclosure would be an afterthought. This is the reality of foreclosure peddling techniques in America and should not be viewed as a liability of character.
The old saying applies to Hawkers and that’s what’s good for the goose is good for the goose. This means that if a ‘foreclosure seller’ can make some money from a distressed sale that was primarily offered by a lending institution, then anyone should be able to do it. The problem is not with business people being late to the game and buying a real estate investment option for a bank, the problem is with the state of the economy. If the financial position of the United States changes soon and the bleeding can at least subside, then this debate will not be an issue. It is only when the glut of houses that are on the market are predominantly foreclosures that the real estate industry is seen as vulture at best.
Selling foreclosed homes, while not a guaranteed way to make money, is a very viable business practice and one that shows little sign of letting up. Why should more and more foreclosures be added to the gigantic list of those swept up in the storm of 2009? There is a lot of profit left in the distressed housing market and the ‘Foreclosure Makers’ are actually doing it in America. The economy is in great favor. Banks don’t want to hold on to a single piece of foreclosed property and the reason for this is quite simple; they are not real estate experts. The end results of a financial disaster like this year’s are many and must be taken into account each and every time the term ‘bad real estate’ appears.