Guy comes in….I say “how’s biz?” he says “biz is GREAT!!!!!!” What biz you in?”
He works with the banks to unload FORECLOSURES!! Been doing this since 1995
“We are selling for 50 cents on dollar” he sets up eviction, fixes up if necessary…..try to sell them fast.
For himself he bought “18 acres in Jarretsville, 3,800 sq foot home built in 1992…..for $520K was listed ? over $800K bank ate rest.
He normally carries about 60 homes in inventory….he now has 200-300….”its taking longer to sell.”
He sees his numbers swelling to near 400…..”It is picking up not slowing down” someone will make a killing here and it wont be the banks
He sees it getting worse as “we haven’t even gotten to the Alternate A homes yet due in next 3 months,,,,” and more subprime…..will take another year and half to clear them out.
GLAD SOMEONE IS BUSY!!
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