That’s probably the best way to deal with foreclosures in a community. Often times, the worst fear of homeowners when they see foreclosures rising in their area is that their property investment will suffer, and that large banks or other institutions who don’t have an interest in the community will buy up the properties for cheap and dispense with them similarly. When homes are owned by large numbers of buyers who live in the community, home values stay high and there’s less volatility in the market.
July 15, 2011 at 9:25 pm
That’s probably the best way to deal with foreclosures in a community. Often times, the worst fear of homeowners when they see foreclosures rising in their area is that their property investment will suffer, and that large banks or other institutions who don’t have an interest in the community will buy up the properties for cheap and dispense with them similarly. When homes are owned by large numbers of buyers who live in the community, home values stay high and there’s less volatility in the market.