American Houses

(NewsUSA) - In so many ways, foreclosure is an end. It's a bank's last resort, and the sad final chapter for a family sold on the American dream of home ownership.

But in another sense, foreclosure is also a beginning -- a never desirable, but often useful, tool that can help stave off neighborhood blight and create a path toward rejuvenation.

As much as everyone wants to avoid foreclosure, it does provide cities -- especially older ones with declining populations -- the legal means necessary for acquiring property that would otherwise become vacant or abandoned.


The trouble is that there's a stigma associated with foreclosure, and legislators can be swayed to impose restrictions on the process that make it more difficult for municipalities that want to reclaim and reuse property that has been left to decay.

So, from a policy perspective, what can be done to create better legal tools for clearing titles that don't depend solely on the self-interest of debt collectors? Here are some ideas proposed by Mary Helen Petrus, a researcher at the Federal Reserve Bank of Cleveland:

* Quiet title actions, in which governments go to court to "quiet" any and all claims to a property's title.

* Laws to facilitate nuisance abatement through receivership (giving courts the power to assign repairs or improvements to an overseer of a vacant property).

* New rules making it easier for willing homeowners to forfeit their properties so that governments can take stewardship.

* Processes for tax foreclosures that don't have to go through the courts.

This is not to say that foreclosure is always the best option. In viable neighborhoods, the most beneficial course of action is generally to focus on improving the quality and affordability of housing for the people who still live there. But when there's a breakdown, and there's no hope of rescuing properties from becoming vacant or falling into disrepair, foreclosure is often the most viable option.

This is especially true in American cities where joblessness is high, or the population is dwindling. In these situations, where there simply aren't enough homebuyers to purchase the number of homes available in a market, foreclosure can actually help begin the process of revitalizing neighborhoods. For more information on this subject, visit www.clevelandfed.org/pr/foreclosure

(NewsUSA) - To some, the current real estate market looks dismal. A weak labor market, rising mortgage rates and high energy prices have caused many American homeowners to lose their properties. To others, the real estate markets looks ripe for investment.

Deer Park Development Corporation, a company with over 30 years of experience in the real estate market, has developed a new approach for investors hoping to purchase and resell foreclosed properties for profit. Foreclosed houses sell at lower prices, helping investors buy properties with less money upfront. In the past, housing prices reflected overinflation -; as the market evens out, the mortgage crisis might actually help stabilize home prices.

Marty O'Malley, CEO of Deer Park Development Corporation, noted that the current real estate market represents a once-in-a-lifetime opportunity for the astute buyer. "With one in every 360 homes in foreclosure nationwide, the opportunity to buy distressed property at significant discounts to their original appraisals is extensive," said O'Malley. "In Clark County, Nev., one in every eighty homes is in foreclosure, and on top of those statistics, one in every two homes is underwater, meaning that it's not worth the amount of money owed on it."

With this amount of inventory on the market, there are situations out there that present themselves as profitable ventures. Not all of the foreclosures are money-making deals, but with experience, professional investors know when and what to buy, so they can make successful ventures.

Being an individual investor in the real estate market can be a dangerous proposition for the inexperienced. But investors, in tying themselves to a group of experienced real estate players, can use experts' hard-earned knowledge to turn a profit in the down real estate market.

"Allowing individual investors to participate in ownership through direct partnership creates a risk-free vehicle for foreclosure players to work with," said O'Malley,

For additional information, visit Deer Park Development Corporation's Web site at deerparkdevelopmentcorp.com or contact Capital Group Advisors at 954-297-0706.

(NewsUSA) - Mark had a $7,000 dollar-a-month problem -; a mortgage on a home he couldn't sell.

Mark, a real estate professional, built the $1.25 million dollar property in an upscale Phoenix, Ariz. neighborhood, then watched it sit for over a year. With mortgage payments eating into his potential profits, Mark dropped his price several times. Buyers weren't interested.

"If you told me then what I know today, I would have shot you," Mark said jokingly. What didn't Mark know? That the housing market would crash.

In today's depressed housing market, profits prove unrealistic. Homeowners with sitting properties need to sell quickly.

Mark, accustomed to selling homes himself, turned to the Fast Action Homes Sales System to learn how to sell his property. Signs, printed ads and a custom-built Web site led to a weekend bidding war.

With a grueling year and a half on the market behind him, Mark sold his property in only three weeks following use of the new system. In selling for market value, Mark escaped the holding costs that threatened to ruin his personal finances. Figuratively, he lost two fingers in his real estate deal -; but he saved his hand.

In a down market, people who are set on a high asking price will see holding costs drain money from their wallets. The market cannot absorb the number of homes needing sale. Experts predict that the housing market will only worsen. Waiting for an upturn will leave sellers bankrupt.

On the same weekend that Mark sold his property, two other Phoenix residents also used the Fast Action Homes Sales System.

Judy, an interior designer, used the Fast Action System to attract over 100 visitors to an open house. She received nine offers.

John, an appraiser, rented his house to the wrong people -; his former tenants caused $30,000 in damages. To pay for repairs, John put himself in credit card debt. He needed to sell the house just to cover his bills. The Fast Action Home Sales System led several buyers to offer market value for John's house. John could not profit from the sale, but he could cover his losses.

Today's market leaves property owners with two options. They can either rent out their properties until the market improves, or they can escape the worst by selling their homes now.

To access a quick-start guide to the Fast Action Home Sales System, either visit www.RealEstateKit.com or call 1-800-669-1038

(NewsUSA) - Maintenance costs are up, home values are falling and states are seeing more foreclosures than sales. But terrible times for homeowners make for terrific investment opportunities.

Why? The market sees constant ups and downs. Buying when the market's high means greater upfront costs. And because the market cannot rise indefinitely, property investors must constantly watch for the bubble to pop.

In a down market, the question is not "if," but "when" the market will improve. If investors can buy properties at rock-bottom prices, they can afford to maintain the home until the market improves. At that point, the investor can sell the home both to recoup their buying and operating costs and to make a profit.

Some companies are looking to profit on the down housing market. Deer Park Development Corporation, a Nevada-based company, is purchasing foreclosed homes in Arizona, Nevada, California and Florida, some of the areas most affected by the down market. Nevada, for example, sees more foreclosures than any other state -; million-dollar properties can be bought for half their building costs. Between May and June, Californian banks foreclosed on 40 percent of the homes on the market.

Deer Park Development Corporation's agents and brokers draw on 35 years of experience -; they have seen down markets before, so they can easily identify promising properties.

When Deer Park Development Corporation finds a home that it wants to acquire as an investment, it works with the homeowner or bank to purchase the home at a 50 percent discount.

But the company does not profit at homeowner's expense. It negotiates with homeowners so that people can rent their homes after the sale. When the original homeowner's lease expires, Deer Park Development Corporation allows former homeowners to repurchase their properties for a predetermined price. In this way, the company invests in the down market while also helping down-and-out homeowners.

Currently, the company is searching for investors. For more information, visit deerparkdevelopmentcorp.com