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Foreclosure Cleanup Industry Poised for Growth |
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Hi Foreclosure Cleanup Business Owners,
Take a peek at some stats from RealtyTrac, an online foreclosure data and property reporting site. The market is filled with foreclosures, which means these properties need eyes (inspections) and hands (initial and ongoing maintenance) in the form of foreclosure cleanup companies like yours. The data below indicates our industry is needed and is on the rise. Check out these numbers:
"A total of 3,825,637 foreclosure filings - including default notices, scheduled auctions and bank repossessions - were reported on a record 2,871,891 U.S. properties in 2010, an increase of nearly 2% from 2009 and an increase of 23% from 2008, according to RealtyTrac, an online marketplace for foreclosure properties, in its Year-End 2010 United States Foreclosure Market Report released previously.
The report also shows that 2.23% of all U.S. housing units (one in 45) received at least one foreclosure filing during the year, up from 2.21% in 2009, 1.84% in 2008, 1.03% in 2007 and 0.58% in 2006.
"Total properties receiving foreclosure filings would have easily exceeded 3 million in 2010 had it not been for the fourth quarter drop in foreclosure activity - triggered primarily by the continuing controversy surrounding foreclosure documentation and procedures that prompted many major lenders to temporarily halt some foreclosure proceedings," says James J. Saccacio, CEO at RealtyTrac. "Even so, 2010 foreclosure activity still hit a record high for our report, and many of the foreclosure proceedings that were stopped in late 2010 - which we estimate may be as high as a quarter million - will likely be re-started and add to the numbers in early 2011
." (Source: Collections & Credit Risk, By Darren Waggoner)
Staggering Number of Foreclosures on the Market & To Come
The above data shows a staggering number of foreclosure homes on the market needing inspections and initial and ongoing interior and exterior maintenance. Are you poised to take advantage of the gluttony of foreclosures on the market with your foreclosure cleanup business?
NOTE: With the number of products we sell, we are increasingly seeing more and more forms sales activity (escalated over the past several months), which means you all are working in numbers. Great! Keep up the great service to our industry.
Continued success to you!
Cassandra
Your link to all of our previous newsletter posts:
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Failed Banks Listed by Month
Visit this link to see which banks closed in which month. (Remember, the acquiring institutions of failed banks can be fertile ground for foreclosure cleanup businesses.)
Get Your EIN Today:
Help Devising a Zip Code List: In your effort to come up with a list of zip codes in which your company does business (or in which your company can do business), use the United States Post Office's Zip Code Finder. You can find a ZIP Code by entering an address, and you can also search for a partial address, such as "Green Street, Los Angeles, CA." Find it at this link: http://zip4.usps.com/zip4/welcome.jsp.
Business Rules for Your State: To find out rules, regulations, business registration and filing requirements in your state for doing business, visit this government link and find your state:
D-U-N-S Number Tip: Don't "pay" for a D-U-N-S Number! Some companies charge $149 and up when they box it with other services. Getting your number is free, free, free if you are signing up as a vendor on government contract registration websites.
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Blogs of Interest
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Newsletter by Cassandra Black, Author of How to Start a Foreclosure Cleanup Business and several foreclosure cleanup industry Guides, Reports and Forms. Sign up as a Premium Newsletter Subscriber. You will periodically receive foreclosure clean-up job leads and consultative advice to help you grow your foreclosure cleanup business!
For more industry information, visit the foreclosure cleanup blog and the foreclosure cleaning newsletter archive.
Return to Foreclosure Cleaning Newsletter Archive TABLE OF CONTENTS.
Foreclosure Cleaning Industry Books & Forms
If you need books, reports and forms for your business, visit the Foreclosure Cleaning Bookstore for all of your foreclosure cleanup business information products today. Much success to you in starting and growing your business!
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