Fiscal cliff deal good for real estate market? Is it?
I was reading an article yesterday on CNBC.com (found here) and I found this quote
by the president and CEO of CoreLogic to be interesting...
"We expect a gradual and progressive contraction in the shadow
inventory in 2013 as investors continue to snap up foreclosed and
REO properties and the broader recovery in housing market
fundamentals takes hold,"
So what exactly does this mean?
Basically the market is red hot with REO property opportunities as
shadowed inventory is being released.
And as I've been saying for over a year, banks are looking to move
these properties ASAP.
But here's the thing...
As the properties are "snapped up" by smart investors like myself 🙂
the opportunity will gradually fade.
There will NEVER in your lifetime be a greater opportunity than
there is right now to start cashing in bank owned houses.
Granted, REO investing will always be a viable way to make money in
real estate, but the true cream of the crop is available to those
who want it right now.
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