More than one million American homes have now been left empty by the wave of foreclosures sweeping the nation, according to one firm.
House sitting specialists HouseSitAmerica said banks were being left with legions of empty properties after acquiring foreclosed homes.
The phenomenon also presents a potential problem for property investors who snap up homes at cheap prices at foreclosure auctions, but then opt to wait before selling.
Although houses can be bought cheaply in foreclosure hot spots such as Las Vegas, Nevada, many speculators face months of holding on to them while waiting for stalling US prices to rise again.
Bea Bigle, co-founder of HouseSitAmerica, said:
“We are focusing our marketing efforts toward banks who need qualified sitters to watch over homes while they are for sale protecting their investment.
“These houses need security, maintenance and a ‘lived-in’ look to make them saleable.”
Southern California, which has been a prime area for foreclosed homes sales, has recently seen a further fall in median home sales prices.
Real estate data firm DataQuick said the figure was $330,000 in August in six counties in the area, down 5.2 percent from $348,000 in July.
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thanks hope to hear from you.