Saturday, February 20, 2010

Foreclosures up

Just checking in on the total foreclosures for Prince George BC and area and as of today they are at 34.

I believe we will see this kind of number and even a further increase this spring & summer as most of the mill closures and layoffs and just bad economic times occured about 12 to 20 months ago. So for those unfortunate to be laid off etc, their UI, support income or savings has or is most likely come to an end. Also those that stop making payments on their homes mid last year would be seeing the lending institution starting the foreclosure process about now.

Dean Birks
Prince George Real Estate

1 comment:

mrblogger said...

Hi all,

I also bought a repossessed property and it was the best investment I ever made. I bought a repo house on auction for much less than the market value. I was always skeptic of buying a repossessed house on an online auction. This turned out to be one of the best decisions I have ever made. The process is not as complicated as one may think. Be sure to use a reputable company which will help you through the whole process. A blessing in disguise, since I do not have much time in the day, was that everything was done online. This really helped me a lot with my tight schedule.

I am currently busy buying my second house to rent out. I feel like it was worth while waiting all this time to finally be able to buy property, since I can now get two properties for a little bit more than the price of only one.