A search on the Internet for the word “foreclosure” in Google gives you 24,100,000 hits. Eghad! Having done many foreclosures as a real estate attorney going back to 1986, I can tell you very few people make money in foreclosures. Most of the money is made in selling services, seminars, and books on how to make money in the foreclosure market. I can count on one hand the clients I’ve had who actually made money in foreclosures. Can you make money with a foreclosure? Absolutely. But they are far and few between. This is a reality check for some. For others, I’m sure this is no surprise at all. If you want to know exactly how the deed of trust foreclosure process works in Washington, go to http://freerealestatelaw.com/Foreclosures.html.
Chuck grew up in remote Alaska, graduated from the University of Alaska with a degree in Economics and Teacher Certification, and after teaching high school for two years, went to law school at Gonzaga University in Spokane, Washington. He served four years as a Captain and JAG in the USAF at Nellis AFB in Las Vegas. After practicing real estate law for 20 years in Washington, Chuck founded iRealty Virtual Brokers covering Sequim and the beautiful Olympic Peninsula. He is the author of 2,200 real estate articles and a dozen real estate books, and he produced over 100 real estate videos. Chuck combined his love for real estate and technology to create a massive Internet presence, and his articles and videos and books have been viewed by millions. Chuck is a well recognized real estate expert and his counsel is sought by other brokers and practicing attorneys around the country. Buyers from New York to Hawaii and from Florida to Alaska seek him out to retain him as their buyer's agent, and home owners around the State of Washington seek him out because of his new Flat Fee Listing Service.
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I work for CurrentForeclosures.com, a foreclosures site and have seen a huge increase in the number of foreclosures in the past 7 months. I believe it is a combination of not only sub-prime and ARM mortgages, but also the high number of people who have gotten loans with interest rates at an all time low… in addition to the rapid depreciation in some areas and the difficulty some are experiencing in selling their homes.