The life and times of an Arizona Investor

This will be my personal journal to document my failures and successes during my real estate experiences in Arizona. All stories, thoughts, and successes will be documented..

Sunday, March 05, 2006

Another article on foreclosure investing..

For those of you interested in foreclosure investing, check this out...

I agree with the article completely, however its not stopping me from investing in this area...

http://money.cnn.com/2006/02/07/real_estate/foreclosures_money_0603/index.htm

Good investing..
|| Bginvestor, 6:30 PM

1 Comments:

I agree with most of the article, too, however, I would add that I expect foreclosures to increase in Texas in the next few years. Already there are 700+ HUD foreclosure listings alone on any given week, and I expect it to rise. Not so much because people who got short-term ARM's in the early 2000's will have to refi or lose their house, but because I expect Texas (at least the I-35 corridor) to undergo strong market appreciation. When that happens, current homeowner's assessments will increase a LOT. For many, they are already struggling to keep up with their property taxes. Increasing that by 20% or more each year will put them over the edge. I don't think it will be catostrophic by any means, but an increase none-the-less.
Blogger Steve, at 10:47 AM  

Post a Comment

$2.95 a month web hosting