Foreclosures can be a solid investment

Re: 'Foreclosures are NOT bargains' (June 5)

Dear Editor:

While the current market is ripe with foreclosures, it is a sign of the times. Greed brought us here with guidelines that should NEVER have been underwritten: "I'd like a 100 percent non-owner occupied residential loan, please." If someone (tenant or owner) coughs wrong, bingo! Foreclosure.

While I agree some houses are trashed, buyers are smart enough to know which houses take too much work to bring back to par.

I think the author fails to mention this and is longing for the past. Foreclosures CAN be a great equity play for people to gain wealth -- done correctly, of course. I think the fundamentals to remember are still intact: location, price and overall value.

We will all look back on this as a bump in the road one day, and HOPEFULLY greed will not bring us here again.

Jay Orr

Agent

Synergy Realty East Inc.

Atlanta, Ga.

***

What's your opinion? Leave your comments below or send a letter to the editor.

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.