The Strata Group Forms Foreclosure Group
Posted July 7, 2011
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The Strata Group has formed The YWGC Foreclosure Group, a division specializing in transforming bank-owned properties into assets for homebuyers and investors in Central Maryland.
The Strata Group is comprised of seven collaborative and complementary business units that offer specialized products and services, targeting the residential real estate sector in Maryland and Delaware. Yerman Witman Gaines and Conklin Realty, LLC (YWGC), the residential real estate brokerage division, operates eight full-service brokerage offices throughout Central Maryland.
The YWGC Foreclosure Group will offer comprehensive services to entities that control foreclosed properties, including banks, asset managers, and government-sponsored entities (HUD, Fannie Mae, and Freddie Mac). The division will perform a market analysis of each property utilizing neighborhood comparables, suggest improvements to increase the value of the asset, coordinate the remedial activities, and develop customized marketing strategies.
According to information released by RealtyTrac, a company that collects and analyzes data concerning home foreclosures internationally, the typical foreclosed property sells for approximately 59% of the value of a similar non-distressed property. These sharply reduced prices represent tremendous opportunities for homebuyers and investors, while new occupancy increases stability within neighborhoods at every economic level.
The new division will receive dedicated in-house support within The Strata Group network from YWGC Realty, Prospect Mortgage, Continental Title Group and Strata Law.
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