Great St. Charles Investment

Posted by Lynn Purcell, St. Charles, IL Realtor on Jan 18, 2012

This property just closed for $58,000.  It is another example of a trend that is occurring in this market.  Investors are purchasing foreclosed properties at great prices.  They then fix them up and turn the property around and put home up for rent.  This trend is good for the overall market for a couple reasons.  First, decreases overall supply.  Which increases home prices.  Secondly, newer remolded homes can bring values up in neighborhoods that have been hit hard by foreclosures.  Lastly, creates affordable housing for people.