POTOMAC HOMES FOR SALE: THE HALT TO FORECLOSURES

POTOMAC HOMES FOR SALE: THE HALT TO FORECLOSURES

Potomac Residents, are you thinking about selling your home this fall? Now might be a great time to get on the market. Rates are low and your competition is less than it might be as a result of the moratorium on foreclosures. There are buyers circling at Open Houses and looking for homes to purchase before the end of the year. If you live in Potomac, Bethesda, Chevy Chase, Rockville, Maryland or the District of Columbia and you are thinking about buying or selling, call me at 301-996-8700.

Take a few minutes to read the following post about those affected by the recent halt to foreclosures.

Via Dave Halpern - Louisville Short Sale Expert (Louisville Short Sale Expert Realtors (502) 664-7827):

The ripple effect of the abrupt halt to foreclosures is far reaching. Here's just a partial list of those affected:

• Buyers
• Contractors who were going to repair the home. This alone has a massive effect on employment. Hard working Americans who build America are abruptly out of work, again.
• The entire manufacturing and supply chain of material needed to renovate repurchased foreclosed houses.
• Movers
• Closing attorneys
• Appraisers
• Appliance retailers and wholesalers and manufacturers
• Neighborhoods suffer more blight for an additional extended period of time.
• Owners who moved away and have to maintain the house. Some municipalities file criminal complaints against owners who don’t mow the grass or fix vandalism beyond their control.
• Owners who have to pay insurance on an unwanted home. Without insurance, the homeowner in limbo will be on their own if they’re sued by someone who gets injured on the property.
• This is just a brief and partial list of those who are immediately affected by this abrupt halt. The ripple effect of the foreclosure halt is far reaching.
• Realtors, especially Realtors who rely heavily on listing REO's.

The losses incurred by all those affected will cause more unemployment which will cause more foreclosures.

This foreclosure halt is truly a crisis within a crisis.

Who else have you noticed affected by this abrupt halt?

 

Dave Halpern

Real Estate Broker, Louisville Short Sale Expert Realtors

(502) 664-7827