The stream of ARM mortgage resets are anticipated to crest in May and June of this year. That signals that more foreclosures are on their way. Those who have avoided losing a home and who may have investment cash on hand are snagging some great opportunities.
Our Las Vegas real estate agent team has access to dozens of repos. We have seen homes sell for half of what they sold for 2 years ago. A 4 bedroom home recently sold for around $180,000. It would have sold for more than $350,000 before the credit crunch. It is expected that next year at this time that the values of homes will begin to recuperate. For someone who can sit on a great deal for a couple of years there is some projected considerable earnings.