In general, home buyers “have a negative view of buying foreclosures,” but an article at CBS Moneywatch.com says real estate investors, trade-up buyers and renters have a strong interest in buying foreclosures, so they’re still a big part of the housing market.
The article provides an interesting set of statistics. For example, 24% of homeowners express some interest in trading up to a larger home, and 88% of those would consider a foreclosure. Also 57% of people who are currently renting would consider buying a distressed property, and the figures are even higher among younger renters.
(If you’re interested in foreclosure statistics and news, RealtyTrac has a “Foreclosure News Report.” You can subscribe here.)
