Foreclosures...

There has been a really disturbing trend over the last couple of years. We've all read about it and I've posted about it several times here. Foreclosure. Very foreboding word. The thing is I have really been noticing it in my area over the last year or so. My next door neighbors sold their house to a younger woman and when her boyfriend flaked out she almost had to sell the house or have her house taken away from her. She ended up not having too but she has rented it out now and is living someplace cheaper. Hated to see her go. My other neighbor on the other side ended up being foreclosed on about four years ago. The bank finally sold the house and the owner rented it out for about a year. Now it's back on the market again.

There is a pretty high percentage of homes in my subdivision that are currently owned by banks and on the market for sale. That's one of the reasons that I am going to have such a hard time selling the house should I get promoted.

Now if you are an experience investor that has the money, this is a great time. Home prices are down and if you are buying pieces of property that have been foreclosed on sometimes you can get them at a steal. Nobody likes taking advantage of other people's misery (well, most of us don't) but it is a good time to be involved with the buying end of real estate.