Inland Empire property sale for first-timers only
By ERIC WOLFF - ewolff@nctimes.com | Posted: April 23, 2010 7:56 pm
Investors will not be allowed at the foreclosure auction Sunday at the Riverside Convention Center.
That alone should get the attention of prospective homebuyers searching for a lower-priced home in the current market.
But the auction, which will include about 110 homes from across Riverside and San Bernardino counties, also features unheard-of amenities for a foreclosure auction, like a thorough Web listing of the properties available, a guarantee that the homes have been or soon will be inspected, and assurances that each is well-enough maintained to qualify for any government-secured loan.
Prospective homebuyers at the Inland Empire auction on April 25
The organizers of the auction, the Carmel Valley-based New Vista Asset Management, are trying to build a business that makes it easy for first-time homebuyers to get houses where owners are most desperately needed.
We are New Vista Asset Management, a privately held company that is dedicated to transforming the way foreclosure properties are marketed and sold. We believe REO properties can be the perfect affordable housing solution for those who want to achieve the American Dream of homeownership and the responsible way to convert losses into positive new beginnings for America’s neighborhoods.
