Foreclosures are not slowing down as we go into the second half of 2012, and are now making up one in every four home sales on average. This is a very unfortunate situation for many people, except for Property Preservation Companies, who are cleaning up in this booming industry.
On May 31, 2012 statistics on foreclosed properties were released by the top Internet foreclosure property marketplace, RealtyTrac®, in the “Q1 2012 U.S. Foreclosure Sales Report™” that shows what is happening with foreclosures in America. This report explains foreclosures accounted for 26% of every residential home sale in the 1st quarter of 2012. This figure is 22% higher than the 4th quarter of 2011, with the 4th quarter of 2011 figure being 25% higher than the first quarter of 2011.
These figures show the foreclosure trend in America, and how it is continually growing. These properties all have to be repaired and cleaned up before they can be put back on the market for sale. That is where the Property Preservation master contractors come in. They will come in and look over the property to see what repairs will be required, and everything that will be involved with getting the property cleaned up so it can be put back on the market.
Some of the states are experiencing higher foreclosures than other ones are, due to different reasons. 56% of the home sales in Nevada are in some phase of foreclosure, which will require Foreclosure Clean Up services. Almost half of the current home sales in Georgia and California during the 1st quarter of 2012 are made up of foreclosures, according to the “Q1 2012 U.S. Foreclosure Sales Report™” recently released by RealtyTrac®.
There were 21 states that the RealtyTrac®, “Q1 2012 U.S. Foreclosure Sales Report™” showed having an increase in bank owned sales. Some of the states have a larger percentage of increase in foreclosed sales in the 1st quarter of 2012. Oregon showed a 41% increase in the 1st quarter, North Carolina had a 23% increase, Ohio came in at 21%, with both Florida and Wisconsin showing a 13% increase in bank owned sales. These areas are overloaded with properties that will require services from a Property Preservation Business.
Another phase of foreclosures in the housing market are short sales, which are up 25% from 2011. There are 27 states that had an increase of short sales, plus other types of pre-foreclosure transactions. The top states of these 27 include, Wisconsin at 94%, Michigan 81%, Georgia 80%, plus both Illinois and Texas at 46%. These statistics reported on the “Q1 2012 U.S. Foreclosure Sales Report™” show that there are Big Opportunities for Property Preservation Companies to position themselves now for a Consistent Lucrative Income.
This growing trend of foreclosed properties has opened up a vast amount of opportunity for Property Preservation Master Contractors and Companies. All of these millions of foreclosed properties must be repaired and cleaned before they can be listed and put back on the market for sale. Many of these bank owned properties are taking up to a year to sell, and will require regular maintenance, providing an opportunity for a recurring income.
Every state has been affected by the increasing number of foreclosures. To find out about opportunities for Property Preservation Companies in your particular state, and to see the amount of foreclosures in your area, check out the RealtyTrac® heat map to see where your state ranks in the amount of foreclosures. This is a great opportunity for people that want to ensure a lucrative income stream for the coming years.
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