The Real Estate Disaster Continues To Plague US Real Estate Investors
The 'foreclosure phenomenon' has plagued the housing market; REO real estate, has become an uncomfortable norm in a housing market ridden with foreclosures. Many real estate investors have taken this opportunity to try to buy foreclosed properties through the "Short Sale" process, but have faced unexpected obstacles. Mark Bradley announces campaign to help investors buy bulk REO properties.
- (1888PressRelease) July 15, 2010 - With bank owned real estate becoming a standard in the US economy, many investors have responded by trying to capitalize on financial potential through investing, but have reported unexpected obstacles either from a lack of real estate market knowledge or from being misinformed by infomercials promising millions to new investors. Mark Bradley, professional commercial and residential real estate investor, begins his new 'buy bulk REO properties' campaign describing what events lead up to his discovery of the profit potential in bulk REO real estate, and how he can help other investors easily find significant profit in bulk REO properties themselves.
According to Realty track, the figures below describe the current real estate market:
• 1 in every 399 housing units went into foreclosure May 2010
• 322,920 new foreclosures filed.
• California, 72,030 foreclosures.
• 2,075,563 Foreclosed Homes Nationwide.
• 44,623 foreclosure sales may 2010
These figures indicate that, on average, 278,297 bank owned properties currently remain unsold, and over 300,000 new listings will be added to the bank inventory of REO properties each month. Bradley, a commercial and residential real estate investor, comments that on his company website, he has posted videos describing his experience of being introduced to the market, and how he has finally found a way investors can take advantage of the back log of bank owned real estate.
To uplift the economy, banks must rid of the excess unpaid mortgages from foreclosures quickly, and have resorted to market-bottom prices, which ideally promise opportunity to real estate investors. Bradley started with a few investment deals buying short sale properties. "Buying short sales and foreclosures was a lot of work. Emphasize lots!" says Bradley.
On top of the work required, Bradley opposed capitalizing on homeowners experiencing distress and devastation.
After experiencing the same frustration that many new investors do trying to find the best deals, Bradley grew wary of investing in another property should the market drop another 20%, and he found hesitation in the government's actions in mortgage intervention. He feared that President Obama would outlaw mortgage interest deduction for homeowners. Suddenly Bradley faced three college tuition deadlines. He had to do something quickly, and he still believed that investing in bank owned real estate had the financial potential he imagined from the beginning.
The short sale 'experts' had failed to mention that the millions promised to investors "could take up to one year of more to do just one short sale deal and that's if the planet's are inline," says Bradley. Bradley took an entire new approach instead of focusing on "time consuming short sale deals." He plans on releasing more information regarding problems that exist in the short sale approach, and new ways of considering profit in the housing market for investors.
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