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Friday, October 10, 2008

The Flip Side of Foreclosures

While Wall Street is crashing and fortunes are being wiped out, houses are being sold at impressive rates across the nation. Recently, my wife and I started to look at some of the houses in our local area and some of the prices might shock you. Take for instance the seven bedroom foreclosed home we looked at that was originally built in 1792, two fireplaces, three full baths, over a half acre of land with an above ground pool, originally priced at $292,000 that is now going for $150,000.

Yes the economy is in the toilet for many people but not for everyone out there. Not that luck alone has a lot to do with it but if you are lucky enough to ride out this financial crisis then one of the best ways of doing that is investing in a distressed home. Over at MSNBC they have this on the new version of a housing boom…

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*****Reuters has picked up this post.... Thank you!

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