Archive for July, 2008

 12 Jul 2008 @ 9:43 PM 
 

Real Estate In The Recession

 

Due to recession the real estate market is affected so much, that buyers are buying homes for as little as $1000. In places like Detroit, Indianapolis and Cleveland communities have been hit by foreclosures. Today banks are turning into property management companies due to the foreclosures. The lenders who repossessed them are selling them. Lenders are not interested in making money out of them due to the low prices as they will have to spend more on them to get market value. So they are trying to get rid of these homes, so that they can reduce their property taxes and maintenance expenses.

Tags Categories: Foreclosures Posted By: admin
Last Edit: 16 Jan 2009 @ 10 45 AM

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