Foreclosures......are picking up.
My biz used to only rehab bank foreclosed homes. That's where we got started and rode that train for 5 years. We'd spiff em up with new cosmetics, paint, carpet, appliances, whatever they needed to look nice.
Then the economy got so good the foreclosures all but disappeared..... we've had maybe 3 in the past 5 years. All the agents were busy, but not with REO's. I used to do 20 homes a month.
So far in 2006, well I am amazed that I've had 5 come to us this month so far......now this is San Diego and Riverside counties only. I am sure we are only getting a small portion of the ones that come back to the banks and go to rehab.
Temporary hiccup or a sign of things to come?
Do not live beyond your means......do not live check to check, don't be unemployed and don't dare get behind on those payments cuz they add up quick.....