MHP Releases Special Foreclosure Monitor on Investors Purchasing Distressed Properties - July 19, 2012

From MHP:

BOSTON, July 19, 2012 - As the real estate market inches toward recovery, one trend to watch is how many troubled properties are being scooped up by buyers purchasing multiple properties, thereby raising the possibility of a return to the real estate bubble days of property flipping, absentee landlords and neighborhood destabilization.

Foreclosure Monitor recently took a look at distressed property resolutions in Massachusetts over a two-year period and found that less than one-quarter of all property resolutions in the state were purchased by buyers of multiple properties.  This is in contrast to a recent national report indicating that large investors are working to purchase thousands of properties in foreclosure.

However, some areas of the state are seeing high incidences of multiple purchases by single investors. To read this special Foreclosure Monitor report, click here.