Port Orange Real Estate : REO "Gold Rush" in Florida ?!

       As of late, there has been comparisons of the REO Market ( foreclosure homes ) to the "Gold Rush" of California. Florida is one of the particular comparisons as our market has shown signs of recovery compared to some of the other areas inundated with foreclosures.
       I don't think that is a fair comparison. Yes there is a lot of opportunity for investors to make money, but it isn't throwing everything you have into the opportunity. Typical "Gold Rush" entreprenours left everthing to make their money finding gold with no amount of certainty inn their investment. The opportunity provided by the REO market has a lot more security. There are investors that are : buying REO's, renovating them, renting them, and selling them as a package to other investors. There are Real Estate companies that are buying the foreclosed homes and flipping them for small profit, but in large quantity. Most investors are buying the foreclosures and using them as income properties ( rental ).
      This is not a market that will benefit foolish or impulsive actions. Abusing purchase power provided by Lenders is why we have so many foreclosures now. Informed investors, are going to make informed purchases and not make "rush" decisions.

Search for Forclosures on our Website. Contact us and we can also provide an automatic update of Foreclosure properties in Our Area. You can also compare homes by searching by subdivision .