Foreclosure Education Finally Takes the Floor - NYT
RealtyStore’s vision has always centered around educating the public about foreclosures and teaching consumers how to save money by purchasing foreclosure property. In the wake of the “foreclosure crisis,” as it is now widely becoming known, becoming knowledgeable on the subject is becoming ever more popular. Ralph Roberts, author of certain real estate related texts in the “… for Dummies” series is scheduled to release his latest text, “Foreclosure Myths: 77 Secrets to Saving You Thousands on Distressed Properties,” this fall. Publishers say it will not be the last.
June 9, 2008
Joanne Kaufman reports:“Last week, when Mr. McMahon told his tale of woe on “Larry King Live,” it may have been a boon to publishers that aim at the foreclosure market. Among them is Wiley, which puts out the “for Dummies” series and introduced “Home Staging for Dummies” in April.
“‘We brought that book to market in eight months, and our usual time period is a year,’ said Diane Steele, a vice president at Wiley. Also on the fast track is a new edition of “Property Management for Dummies,” which will come out in August.
“But the pendulum has not swung entirely in one direction, since Wiley and other publishers also seek to serve people who have been sitting on the real estate sidelines.
“‘There will be new landlords,’ Ms. Steele said, ‘because when people get over the fear curve and recognize that properties are affordable, we think that more and more of them will be going into real estate investing.’”
Understanding the home owner in default’s mind set and potential denial is key to helping them through a difficult time and to getting yourself a reasonably good deal.
“In 1979, Mr. Roberts said, he could not keep up with the payments on his three-bedroom ranch in Troy, Mich., a Detroit suburb, and lost his home.
“‘I did all the wrong stuff,’ he said. ‘I didn’t tell my family. I didn’t go to a rich uncle. I didn’t get help. I just let the process happen.’”
For more information about buying a property in pre-foreclosure, please take a look at our online Foreclosure Tutorial.
Full Story, “A Shift in Real Estate Books”.
Copyright 2008 New York Times
Tags: foreclosure education, foreclosure homes, Realtor education
