Repos

[JerryM]

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

[Les]

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.

[allspec33351]

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