Bruce Norris: Buy from banks in foreclosure market

-- Furnace Missing --

Bruce Norris was the speaker at SDCIA Tues night and the place was packed with standing room only. Bruce gave the usual charts about the affordability idex and the resetting of the interest rate on loans. More sub-prime loans to reset in the coming months and prime loans as well. When those reset and the owners stop paying, Bruce said it takes about 10 months for the property to end up as an REO. He is looking at 2008 and 2009 as the best buying opportunities. He is buying at auctions in Riverside County. If you want to know more check out http://www.thenorrisgroup.com