Foreclosure Cleaning Businesses Are Cleaning Up Big Profits Nationally
What happens to the tons of foreclosed homes across the country when the families move out
? Well, the banks send in crews to clean out and repair the newly foreclosed homes. This business has even been showcased on Oprah and 20/20.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. Foreclosures, Foreclosures, and more Foreclosures. Foreclosures have rocked our nation, learn how to survive in this downturn of a market and make money from all the foreclosures nationwide. Even Oprah and 20/20 showcased a new business called Foreclosure Cleaning or the Foreclosure Cleanup Business. Foreclosures are expected to top over 3 Million homes foreclosed on this year alone, showing that hard work can make a very good living. 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. Business has grown 500% in the last 2 years and is not expected to ease for quite some time. Many of these foreclosure cleaning businesses are working 7 days a week to try to keep up with the mounting workloads they are being served from the banks. There is now a huge shortage of qualified vendors to perform these Property Preservation services for the banks due to the amount of foreclosures coming down the line. 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. Banks need to get these foreclosed defaulted properties off their books, so they rely completely on property preservation vendors to perform these services for them. The banks have lost thousands of dollars through the foreclosure process and stand to lose thousands more if these defaulted foreclosure properties are not cleaned out and repaired quickly. Vendors are given a specific amount of time to get these properties "trashed out" and polished up to get them ready for resale. Foreclosures are primed to be here for quite some time. Foreclosures are expected to remain a dominate factor until approximately 2012 according to Realty Trak.
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