Sellers? With an abundance of homes entering the real estate market since 2008, it's been a buyer's market. Buyers have walked away from homes at every end of the pricing and value scale. Financers and banks, overloaded with foreclosures and needing to replenish their money lending buckets, have been unloading homes faster than ever. Therefore the opportunity for low-cost property purchases has been outstanding.
Or Investors? Some people, their money languishing in losing investments or stifled retirement accounts, cashed out those accounts and forayed into the foreclosures fields. They bought low. Brought property up to good condition. Sold for fair price. Many made it attractive to buyers with poor credit, by entering into a land contract with low down payment, which in turn made them a good long term income, and a profitable interest rate. They became invested Sellers.
Or Landlords? These were attractive deals for younger buyers looking for a first time, low payments home in good condition. There were excellent opportunities for older buyers looking to downsize with a small initial outlay. But as luck would have it, many of those new buyers have since lost their jobs or underestimated their own retirement incomes. And as they've stopped making their payments, investor-Sellers have turned into defaulted Landlords-of-a-sort.
