JerryM Posted July 13, 2007 Report Share Posted July 13, 2007 This morning's news noted that national repossessions for failure to keep current with mortgage payments is up 87% from last year. Not a good sign and apparently the result of lending folks money on home purchases they couldn’t afford as long as they passed the verifiable pulse test? Greed is not good! [:-paperba Link to comment Share on other sites More sharing options...
Les Posted July 13, 2007 Report Share Posted July 13, 2007 Our local real estate association reports 35-50 repos per week. We have inspected many of them. The price range is quite some different than the last real estate slump; $18,000 to $1,200,000. I do believe an astute inspector will factor this economic factor into his business plan. Link to comment Share on other sites More sharing options...
allspec33351 Posted July 13, 2007 Report Share Posted July 13, 2007 I do foreclosures and repos, and if business picks up it will be the first to be dropped. It takes 1.5 to 2x the time of a "normal" inspection and the going rate is 1/3 to 1/2 my normal rate. But I make it up in volume. Captain Link to comment Share on other sites More sharing options...
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