Foreclosures

Foreclosures like dead, frozen horses, offer a handyman the opportunity to clean up, and I will explain later. First, I would like to talk about the politically correct word for foreclosures. The Banking, Mortgage Company and Real Estate industries no longer use the term "Foreclosed (as in Foreclosed Homes, Foreclosed Properties, Foreclosed Houses, etc) the acronym "REO" is used instead (This stands for "Real Estate Owned!")

RealtyTrac -- which has more than 600,000 pre-foreclosure and foreclosure properties in its database -- reports that Georgia had the nation's highest foreclosure rate with one new foreclosure for every 127 households in the first quarter -- up almost three times from a year earlier. Quarter to quarter, foreclosures were up 96 percent in Colorado and 84 percent in Indiana. But new figures from RealtyTrac, an online foreclosure marketplace that covers some 2,500 counties nationwide, show that in March 2006 the number of homes entering the foreclosure process increased by 323,102 properties. That's 72 percent higher than a year earlier.

Do you see the market for Handymen?

Stay tuned for the next blog...