There are two recent developments that might help to reduce the number of vacant and vandalized homes that have been through the foreclosure process.
Fannie Mae has developed a rental policy on its own foreclosure properties. It will offer new month to month leases for qualified tenants. http://www.fanniemae.com/index.jhtml
Appealing to a smaller and exclusive segment of the market, Designer HomeTending is offering a new wrinkle on house-sitting. Pre-qualified renters with the high end home furnishings are allowed to occupy otherwise vacant properties. They have to agree to keep the house in tip-top showing condition, get out of the way when the property is being shown, take care of the utility bills to keep the lights on, and leave when the property is sold. I don't expect this to have a big impact on the real estate market, but every little bit helps. I certainly shows creativity and "win-win" thinking. http://www.designerhometending.comt
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