Foreclosures lead to HVAC opportunities

Although foreclosured homes are affordable, they are often in need of extensive repairs and renovation. As a result, the overabundance of these homes for sale has generated a new potential market for HVAC contractors. Because of the amount of people buying foreclosed homes, HVAC contractors are presented with a great opportunity to sell replacement equipment, replacement ductwork, and maintenance contracts. Foreclosed homes seized by banks can be especially attractive to potential home buyers because of the low price tag. And, due to government initiatives such as the Federal Housing Administration's Section 203(k) program, foreclosed homes are being made even more affordable. The bottom line for HVAC contractors is that right now there are excellent opportunities in the foreclosed home market. Contractors should take time to develop relationships with other professionals in the industry because referrals are everything.