Real estate market flooded by bank owned foreclosures and mortgage loans are harder to come by

Sacramento, CA – April 14, 2008 - The US real estate industry has been declining since 2006 and many experts predict that a true recovery may be a ways off. Prospective homeowners are reportedly sitting on the fence in many major markets across the United States, but one internet real estate marketing company in Sacramento reports that it services a steady stream of qualified and interested home buyers because it offers them what they want: foreclosure homes for sale at far below market prices.

“People say we’re the company they prefer to work with because we buy houses directly from sellers and pass the savings on to the end consumer,” said Patrick McGilvray, president of Sacramento, California-based http://www.TheHomeBuyingCenter.com. He continued, “many of our customers have said that we’re the Wal-Mart of real estate because they can’t believe they can get such nice houses for so cheap. Our secret is volume and reduced marketing costs because we exclusively use the internet for marketing to buy our houses and solid relationships with real estate agents, title officers, and mortgage brokers to find end-user buyers.”

Good news in the real estate sector seems hard to find otherwise these days even as Congress attempts to create an acceptable mortgage and housing recovery package. The subprime mortgage crisis and attendant residential foreclosures are still occupying a large part of the nation’s consciousness. Moody’s Economy.com in 2007 released a major report on the state of the nation’s housing and predicted that the housing market recession will not improve until 2010. The reports predicts that price declines of 15% to 30% will be seen nationwide before we hit bottom.