REALTOR® Magazine-Daily News-It's a Dirty Job, But Someone's Got to Do It

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Daily Real Estate News | December 31, 2008 | It's a Dirty Job, But Someone's Got to Do It
So-called "trash-out" businesses that clean up foreclosed homes are a big growth industry.

While there are no official numbers on how many trash-out businesses have opened, a Internet search turns up hundreds of listings, and Entrepreneur Magazine put foreclosure cleaner Cyprexx Services of Brandon, Fla., on its 2008 "Hot 100 Fastest Growing Businesses" list.

Clean-out servicers estimate that it costs about $2,000 to clean out a foreclosed home–more if the departing residents did a substantial amount of damage.

Cassandra Black of Foreclosure Cleanup in Riverdale, Ga., cleans out about 12 homes a month. She says 90 percent of her business comes from real estate practitioners.

With 575,090 loans nationwide entering the foreclosure process during the third quarter, the business is likely to get better before it gets worse.

Source: USA Today, Stephanie Frith (12/30/2008)