Foreclosure Inventory Down Prices Up

Lawrence Yun, Chief Economist for the National Association of Realtors, was just on Lou Dobbs tonight discussing the fact that the Inventory of homes available on the market is at a 13 year low and the prices are steadily climbing.  In a nutshell, the Investment firms are buying low and rehabbing for the flip.  This is …why we need to get the NPPG Registrations underway.  Just tonight I was contacted by a gentleman whom is a VERY heavy hitter in the rehab industry.  He keyed to the fact that NPPG will eventually be able to provide a clearinghouse of Contractors in a One Stop Shop mode.

Even if you do not understand the math, all you need to understand is that the foreclosures are simply shifting from the REO/P&P market over into the renovation and rehab market.

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