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Foreclosure Cleaning Businesses are Cleaning Up Big Profits Nationally

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Foreclosure Cleaning Businesses are Cleaning Up Big Profits Nationally Powered By Docstoc
					Foreclosures are rising again, according to a recent report by Realty Trak.
Unemployment is skyrocketing, jobs are shrinking, and many businesses are closing
their doors across the country. Learn how not all businesses are struggling in this
economy.

Some niche businesses are actually growing and expanding very rapidly. One of these
fast growing businesses is a very unique business called the Foreclosure Cleanup or
Property Preservation Business. First Oprah talked about the Foreclosure Cleanup
Business, then 20/20, and now you can literally hear about people starting Foreclosure
Cleaning businesses all over the nation. With over 3 Million homes expected to
foreclose on this year alone, this dirty business is turning into a booming goldmine for
many. According to new reports released by Realty Trak, they wrote "No Relief from
Foreclosure Heat in August", this updated article states that Nevada, California,
Florida, Michigan, Arizona, and Illinois still posted extremely high foreclosure rates
and these 6 states account for almost 60 % of the foreclosures nationwide. A total of
358,471 U.S. properties received foreclosure filings during the month of August alone,
a decrease of less than 1 percent from the previous month but still an increase of
nearly 18 percent from August 2008.

What does this mean? It means that the dire need for Foreclosure cleaning business
vendors will surge and each and every one of these homes will need to be cleaned out
(a trashout as the banks call it), lawn maintenance services, carpet cleaning, locks
changed and more. This is where the Foreclosure cleanup-Property Preservation
vendors come in. Once a home has foreclosed on, the banks and REO Asset
Management companies send in these vendors to clean, repair, and maintain their
forecloure homes for future resale. These foreclosure cleaning businesses are
struggling to keep up with the onslaught of workloads and on average they are
cleaning 8-12 homes per day, 7 days a week and the work keeps just coming. And
now with the additional foreclosures coming down the line, there is a shortage of
vendors to perform these Property Preservation services for the banks. In California
alone, over 38,000 homes entered the Notice of Default stage, this is considered a
pre-foreclosure, but it gives us a good idea of what is coming down the line in terms
of future potential foreclosures. Property Preservation vendors are needed across this
country to bring these homes back to their former condition so the banks can attempt
to resell them quickly. Banks have to get these properties cleaned out, relisted, and
sold in a timely manner as the longer they carry these defaulted properties on their
books, the banks will continue to lose thousands of dollars. Foreclosures are primed to
be here for quite some time. According to Realty Trak foreclosures are expected to
remain high until well into the 3rd quarter of 2012.

				
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