subject: Tips From A Realestate Foreclosure Expert [print this page] The current realestate foreclosure market has created an unprecedented opportunity for investors. With prices down, investors can find some great properties to quick turn or keep as a positive cash flow investment. Those investors that choose to quick turn the property will be aided by the $8,000 first time homebuyer tax credit. Remember, this credit is only available until April 1, 2009, though there are some other incentives, check with your local government to see what is available in your area. The rise in the unemployment rate has been a major contributing factor to the continued state of the market. Currently, the hardest hit sector for realestate foreclosure has been the median priced homes. What we noticed lately, is that even though the unemployment rate at the higher income bracket is less than the national average, it has nearly doubled in the past year, making for many troubled luxury home owners needing to downsize quickly. In May, the Mortgage Brokers Association reported that the fastest growing segment of the realestate foreclosure market is homes with prime, fixed rate mortgages.Because of rising unemployment and the impact of falling home values, many people with excellent credit are losing their homes. The homes at the higher end of the market arent selling well, even as other areas have begun to show some activity. There is still a 36 month supply of houses in the $750,000+ market. The formerly rich in areas like Los Angeles, Miami and Phoenix have found it particularly difficult to sell their property. To add fuel to the fire, homeowners at the high end of the market are not eligible for consideration under the Make Home Affordable program to refinance or get a loan modification. Those homes over $417,000 in most markets and over $750,000 in the more expensive market areas are simply out of luck. When these homeowners lose their jobs or lose a large portion of their investment portfolios, their options are limited.Most people cant afford to wait the many months, even years, it takes to sell a high end house the conventional way. The savvy investor well versed in the realestate foreclosure market will see the opportunities available in the higher end market. One of the greatest advantages to the homeowner is the variety of ways that the investor can create win/win situations for all involved. To learn how to help sellers move their property visit http://www.SWFLRealEstateCoach.com With the right knowledge, the investor can help high end homeowners get their property quickly sold and help them to move forward.
