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Joining us right now with some answers on most important real estate questions and decisions
in your
life—lawyer and author, Shari Olefson.
Good morning, Mike.
Let's get down to this because we have a lot of people weigh in on Facebook and send us
tweets about
questions, okay? One woman says that she had just receive a lot of money; here it is right
here.
"I recently inherited a lot of money. But from what I read, it sounds as if the good
deals are gone or
snatched up by big investors. Is there still an opportunity for a little guy or gal to
invest?"
That's a great question. A lot of folks still want to take advantage of the distressed property.
Here's the
thing—sales in general are almost back to where they were before, but distressed and
foreclosed homes
or not; they're about halfway recovered, so we've still got about 6 million foreclosures
and distressed
properties, another 12 million homes that are underwater, which is the leading indicator
for distressed.
12 million homes in this country are still underwater?
That's a lot of homes, but it's also a lot of opportunities for women, like this, who
have a problem—
we all want a problem in inheriting a lot of money, right? In terms of the tips—for
average folk who are
looking to invest in distressed property, the National Association of Realtors started
certifying realtors
about four years ago in distressed sales, so you want to look for a realtor who is certified
in distressed
sales.