The shadow inventory of foreclosures now stands at $450 billion, according to Standard & Poor's. This "yet-to-be-absorbed" amount of homes would take 49 months to clear at the current sales pace.
For Immediate Release
Local Agent Receives Training to Effectively Counsel Real Estate Investors, Provide Wealth-Building Strategies
Baltimore, Maryland – April 23, 2011 – Aaron Rice of Keller Williams Realty in Baltimore has earned the prestigious Certified Investor Agent Specialist™ (CIAS) Designation, having completed extensive training to understand the different real estate investor types, and the investment opportunities, financing options and calculations needed to provide solutions for each. The five real estate investor types include: First-Time Investors, Move-Up Investors, Portfolio Investors, Performance Investors, and Rehab and Resell Investor“For decades, investing in real estate has proven to be a consistent and stable way for individuals to build wealth,” Rice said. “Real estate investment supports a number of industries, including construction, retail and professional services, and is a strong way to energize and increase investment in our local economy.”
Over the past 12 months, investment and second-home properties comprised more than $300 billion in sales, representing approximately 27 percent of all residential real estate transactions. In addition, in market conditions affected by mortgage industry challenges, 48 percent of investors made all-cash purchases.
“As markets face the challenges of distressed properties and a difficult economy, real estate investors have the opportunity to find productive deals while helping communities stabilize,” Rice said. “Investors provide much needed liquidity to the market, decrease vacancy rates, improve neighborhoods, and present solutions for homeowners who need to sell.”
With the CIAS Designation training, Rice will help Baltimore-area residents build wealth through real estate investment, and homeowners facing foreclosure find potential buyers for their properties.
Today, millions of homeowners are either delinquent on their mortgages or in the foreclosure process. One potential solution for homeowners in this situation is a short sale, in which the lien holder accepts a sale price of the home that is less than the mortgage amount owed. Increasingly, real estate investors are facilitating this solution.
“When it comes to properties that actually end up in foreclosure,” Rice added, “up to 30 percent of them can’t close conventionally. Investors are often the only ones who can buy them.”
