While the economy recession slowed the overall market in nearly all sectors, the only market that seems to have been spared is that of foreclosed homes hud. According to realtor Kristine LaDue, over 90 percent of her business is currently on foreclosure properties. She has closed four properties recently and still has thirteen more, all of which has been in the market for more than three months.

Statistics released by RealtyTrac show that there are over 4,800 foreclosure properties for sale in Milwaukee County. Moreover, over 2,300 more are in pre-foreclosure state. With the $8,000 tax credit available to first time home buyers, the market is expected to continue performing well. The trend that has been witnessed is people who have never owned a house are rushing to get themselves some, or at least one, before the market prices return to their normal high prices.

In contrast to what many people believe, there are actually foreclosed properties that are in good condition. Most houses only require new carpeting and a fresh coat of paint. If a buyer is willing to do some renovation, the property can be a good investment. This is especially so when we consider that some properties are being sold at 40 or 50 percent lower than their market value.

With joblessness on the rise, properties are entering the market at very cheap prices. Joff Hoffmann who is an agent of Re/Max Realty 100 says he has heard of some banks cutting down their offers by $5000 to $10,000 every fortnight in order to quickly get the foreclosures off their records.

With this being the case, then there is no opportune time to get a personal house or even one to lease. With some house selling at even below $10,000, everyone has the opportunity to be a home owner. Many people are already taking advantage of the tax cut by the Obama administration and are buying foreclosed homes HUD.