The New Tour of Foreclosed Property – Strategy To Make More Money

The ever increasing number of foreclosures is definitely alarming. South Florida seems to be the worst hit. Nearly 1143 homes were taken by lenders, in the month of March. This is twice the number of foreclosures in February. Owners, who are not victims of foreclosure, have faced monetary loss. The price of homes for sale, the condo and the median types specially, has reduced by 11% to12 %.

Smart money, in the mean time, is being made by the lawn guys, maid men and others. An interesting turn in the life story of the lawn guy, Marshall Kaplan, tells how the increasing foreclosures are benefiting small time businessmen. Reeling from a horrifying loss after the ravages of Hurricane Andrew in 1922, he now owns a flourishing business, taking care of 200 homes after their foreclosure. The profit reaped now is almost up by 50%.

Banks have given good business to maid men. Starting off as a casual affair, Victor Lazarus, now works for at least eight banks, who assign him foreclosed homes to be checked, cleaned and locks to be altered if and when necessary. This job gets him nearly 15000 dollars per month.

Listing lady, Kia Grant, is experiencing similar improvements in the listings business. Beginning with property preservation, she soon shifted focus towards listing bank reo properties, as that turned out to be more lucrative.

The job of a journalist turned out to be less exciting compared to selling homes. Peter Zalewski, renowned as the founder member of real estate companies and consultants, has expanded his company with at least thirty staff members working whole time, selling almost four reo properties every week. Homes that sell between 400,000 to 700,000 dollars provide a three percent commission to the agents. A survey says that a majority of the buyers are foreigners who come to Florida to look at the condo homes.

An investment analyst, Alejandro Diaz, owns a real estate company that helps purchase and sale of distressed homes over the net. Sensing a fall in the price of reo houses he had vehemently criticized the situation. His website drew the attention of many and soon he saw a boom in the sale of foreclosed homes.

Marcia Wilson, the lady flourishing in short sale, arranges for the sale of distressed homes at prices lesser than what the owner owes to the bank. Sad though it may be, the loan sharks and the realtors are making fast money on foreclosed establishments.

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