Second Wave of Home Foreclosures Soon to Arrive! Investor Opportunity!
Get ready for the next wave of mortgage foreclosures! I saw the chart in this video a few months ago posted by Credit Suisse. It shows that we are only halfway through the mortgage crisis. The video below is from a recent 60 Minutes episode. It is about 10 minutes and is a MUST VIEW!!
There is going to be another LARGE wave of foreclosures in 2010 and 2011. The first wave of defaults we are seeing today are a result of the “sub-prime” collapse. The next wave is due to Alt-A and Option ARM mortgages. Unfortunately, I believe the housing crisis will not be over in 2009 like people are predicting. The supply of investment properties in Illinois is HUGE. If you are a real estate investor that is terrific! If you are a home seller, that will cause your home values to remain low.
So, how does one take advantage of this unprecedented real estate investment opportunity? Buy investment properties! Investment property interest rates are in the 5-6 percent range. 20% down is required and most of our investors use some combination of cash and home equity from a line of credit. Let us help you find investment properties in Naperville, Plainfield and the surrounding Chicago suburbs.
Link to Video: Next Wave of Foreclosures
Rich and Karen Ayers are licensed Real Estate Brokers in Illinois. We are experienced Brokers who specialize in Residential and Investment real estate in Naperville, Oswego, Plainfield and the surrounding suburbs of Chicago. We also own and manage multiple investment properties and help real estate investors find, buy, fix, rent and sell their investments. Visit our website at www.AyersTeam.com or receive our blog via your RSS Feed or in your email.
This is scary stuff. But also a great time for investors.