Hurricane Damaged Gulf Coast Region Reels as Mounting Debts Increase Real estate investors preparing to come to the region.
RISMEDIA, June 27, 2006—Hundreds of thousands of families and homeowners in the Gulf Coast Region are facing financial disaster. Property listings are on the rise, reaching record levels and driving down prices in the region. The traditional real estate community realizes that a healthy real estate environment in this market is a thing of the past. There are fewer buyers and many more sellers.
To make matters worse, the temporary moratorium on mortgage foreclosures by Fannie Mae and Freddie Mac in effect since last year ends August 31st , which will force thousands of foreclosures.
“Homeowners are hurting financially,” says Larry Haines, founder of BPI Management, Inc., based in The Woodlands, Texas. BPI’s mission is to bring active and savvy real estate investors who have financial resources to buy properties from motivated sellers into the region. “These investors are looking for great deals. That is the bottom line,” says Haines. “They want to work with property owners who have been hard hit, are facing the reality of their situation and realize they may just have to cut their losses if they are ever going to recover,” he says.
“I think one of the problems with the recovery is that sellers have yet to understand that realistic expectations are in order. This is a disaster zone,” says Haines. “Real estate investors will be more than willing to come to the region when they know they can buy properties way below the market prices to help offset the amount of risk associated in the region. When that happens you’ll see the recovery start to accelerate.”
“Real estate investors are pretty close knit,” says Haines. “We’re trying to get the information out and train and educate investors on the issues they need to know about when investing in this devastated market.”
“We launched MyPropertyLeads.com to attract real estate investors from across the country,” says Haines.
“We will be hosting a free introductory webinar for potential real estate investors and reconstruction contractors on June 28th, 11a.m. Central CDT, where they can learn how to jump in begin changing lives and helping others leading the recovery effort,” says Haines. “I’ve spent a lot of time in New Orleans over the past six months and I’m doing some deals there myself right now. I’m willing to share what I’ve learned with anyone who is interested.”
For more information on the upcoming FREE webinar, “Why Invest in the Gulf Coast?” scheduled for June 28, 2006 visit www.MyPropertyLeads.com/seminars.php
Homeowners in the devastated hurricane region can list their storm or flood damaged properties (in any condition) for free by visiting: www.sellyourfloodhouse.com. |
