Port St Lucie Foreclosure

Not since the Great Depression has there been an opportunity like this to buy real estate. As we are nearing the bottom of the real estate market it is becoming obvious that Port St Lucie foreclosure properties represent a great investment opportunity. The fabulous opportunities in the Port St Lucie foreclosure market are the result of the large number of failed investors that purchased property from 2004 through 2006.

The huge increase in opportunities in the Port St Luce foreclosure market are not the result of double digit appreciation or easy money. Quite the opposite, they are the result of past greed and avarice. Tomorrow’s millionaires will be the result of those that took advantage of this once in lifetime buying opportunity to invest in PSL foreclosures.

Now is the time to take advantage of all the foreclosure opportunities in Port St Lucie and the rest of Florida. Banks are foreclosing at a record pace and it looks like it will continue for some time. The shrinking credit markets are making it more difficult for primary home owners to obtain financing putting investors with cash in the drivers seat.

As REO’s and short sales continue to create a glut on the market two things will happen. It will cause an increase in housing inventories and a decrease in housing prices. The last two years have seen an incredible decline in housing prices and even if prices continue to fall they will do so at a much slow pace. What you have is the perfect storm in the real estate market and those with vision are able to recognize the buying opportunity that is present.

Reviewing current sales reveals that about 85% of all sales are bank originated either through REO’s (bank owned property or though short sales in which the bank agrees to take less than the outstanding mortgage on the property. As a result bank owned or controlled real estate transactions are cornering the market in places like Port St. Lucie, that were heavily impacted with foreclosures.

Knowledgeable real estate investors are turning their attention to Port St Lucie foreclosure property to the exclusion of all else. They do this with good reason as these falling prices create opportunities to create rentals that cash flow or excellent buy and hold opportunities.

Often investors find they are having a tough time getting one of these PSL foreclosure deals. There is a lot of pressure and competition for the really good deals. Investors are slowly realizing that another avenue for them to acquire great Port St Lucie foreclosure deals is to purchase their property from a real estate wholesaler. These real estate wholesalers acquire their properties from the bank at reduced prices and then sell them to investors with a small margin of profit. Investors are finding this is a win win situation for both them and the wholesaler as they don’t have to compete in a bidding situation with other investors.

Undoubtedly wholesaling will probably continue to grow and investors will start to look to the wholesalers for some of the prime deals in Port St Lucie foreclosures.