Real Estate Niche Profits From Rise in Foreclosures
December 28, 2007
Longtime real estate agents Barbara and James Newcomb decided three years ago to focus on selling homes that had been repossessed by lenders, certain that the housing market would falter and they could cash in.
The decision paid off. Today, the couple is handling the sale of 50 foreclosed houses in Maryland — up from about 15 a year ago, said Barbara Newcomb of Don Gurney GMAC Real Estate in Glen Burnie. “We’ve hired three people to work for us since September.”
