This has been a big question around the real estate world, what do we do with all of the real estate owned (REO) properties held by the government? i.e. foreclosures. After crunching the numbers and looking at the economics of the situation the solution is to continue to lend money and approve short sales. (short sales are homes that are owned or in the process of being owned by the government/banks, they sell the home below market value to cover losses and get someone who can afford the home into the property). The reasons behind continuing to loan and approve short sales are the negative affects of foreclosures. When homes are foreclosed it is not just the homeowner that is hurt, but the entire community, the housing market, and the nation's economy. By keeping the homes off the market in occupied the economy will have a better chance of improving.
Matt Ullrich
303.415.2251.office
303.941.2452.mobile
ullrich@boulderco.com
RE/MAX of Boulder
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