Foreclosure and Tax Deed sales are poised to offer a glut of investment opportunities by the United States. Statistics and emerging trends are proving the point I made six months ago that the greatest investment opportunity in the USA right at this moment is to invest in real estate by Tax Deed sales. Let us examine why this is so.
Zillow.com, a real estate trend tracking site, has hard figures that show that over 3 million homes are either in foreclosure or will go into the foreclosure course of action in the very near future. In fact, in as little as the next six months, and by the end of the second quarter of 2010, most will be in foreclosure. This trend, based on obtainable statistics, is only the tip of the iceberg! As in the terrible tragedy that befell the Titanic, it is what is hidden under the water that ultimately sinks the ship.
obtainable statistics only show the visible iceberg, while the real story of Tax Deed and foreclosure sales keep underwater, or put another way, under the radar, where the statisticians can not see the blips in addition of the emerging disasters of new foreclosures. News sets are starting to report a frightening new trend that is causing the banking and financial sectors to freeze up due to the implications.
Simply put, people who have been experiencing from the scams the banking and lending industry imposed upon them in years past, are fed up with the Fed, the bailouts of the edges and other lenders, and the lies that they told, to the point that they are now responding in a negatively real and tangible way. When they find that they are getting behind on their mortgage payments and are facing certain foreclosure, they take matters into their own hands, and they bail out – literally!
Lenders are now receiving in the mail, in ever increasing numbers, the keys to abandoned homes! Often the homes are gutted of all valuable and profitable fixtures such as air conditioning, kitchens, bathrooms, and already expensive copper wiring. Not all homes suffer from this, but a percentage of the homes will, depending on how angry the long experiencing former owners were at the time of them abandoning the home. However, a large number of unadulterated homes left in good condition will also be abandoned, and ultimately additional to the mad mix of the foreclosure glut.
Another trend that is scaring the hell out of lenders is the judiciary imposing a ‘burden of proof’ upon the edges or mortgage holders to produce the ‘original’ mortgage document. Most lenders cannot produce this original document due to the Wall Street practice of ‘bundling’ loans and reselling them to foreign investment groups.
The unfortunate consequence of this is that if the lenders cannot produce the original document, they have no proof that they own the loan. The proof is lost in the mix of their making, and they are reaping what they have sown. edges are starting to lose in the courts, often with the judiciary awarding the borrower the home debt free! The system is in shock and the edges are stuck. They knew this was coming and this is the very reason why the governments bailed them out.
Now for the good news, as every dark cloud does indeed have a silver lining. Given the average redemption period of two years that most counties impose upon the character owner to pay the character taxes, and given that big finance is frozen on the identify, and not willing to pay the taxes owed, foreclosed homes are going to appear in greater numbers at Tax Deed sales!
All kinds of homes, in good and not so good condition, are going by the Tax Deed sales course of action throughout the United States right now, and in the near future. Get ready for the Tax Deed expansion!