Quick, important blog post for you...
Alarming new information is (finally) being released about how big...make that HUGE...the foreclosure problem really is....
Here are a few facts for you:
Fact: Every 13 Seconds Another Home Goes Into Foreclosure.
Fact: Nearly 7,000 Foreclosure Filings PER DAY.
Fact: There are Roughly 7,000,000 lender 'Shadow Inventory' homes....homes destined to become REO listings.
Fact: Its Simply Impossible That There Will Be Any Sort Of 'Market Correction' For Years.
Fact: The FHA Will Have To Raise Standards For Loans, Rates...Credit Scoring etc.
Fact: Over the next 3 years more than 6,000,000 more homes maybe lost to foreclosure (thats in addition to the 7,000,000!)
Hop on over to the blog now and read the entire article...everything is about to change...
It seems that the banks (and the politicians) won't be able to hide the real facts any longer. If these new reports are to be believed, there is going to be massive changes happening to the real estate markets over the next 90-120 days.
Read the artucle on the blog and let us know what you think..
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Changing our marketing strategy this year, I signed up for REO's and BPO's. We are slowly starting to receive orders and new listings. I believe we've only seen the tip of the iceberg.