With the expiration of the tax credit, home sales have been dropping sharply around the nation. Experts reported that “Completed transactions of single-family homes, townhouses, condominiums and co-ops dropped 25.5 percent in July from the year-earlier total, falling to the lowest level since 1999.” Smart investors stand to make a killing during this economic downturn. With sellers experiencing pressures to move and increasing number of foreclosures, especially in the Charlotte area, homes are being sold far below tax values. It is the perfect time to explore REO properties and start bidding!
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