Foreclosures on the Rise Again – Surprised?

RealtyTrac just announced that foreclosures are once again on the rise after 2 months of declining. Foreclosures increased by  4% in June as compared to May.  Should this really be a surprise?  2011 started with reports of an enormous amount of shadow inventory, along with projections per state on how long it would take for the market to absorb this inventory.

These projections were soon forgotten during the second quarter when foreclosure started to decline.  Note that zero states were projected to absorb their shadow inventory by the beginning of the second quarter.  Don’t be fooled, the shadow inventory is still there, and looming over all of our heads.

As a professional in the real estate market it can be difficult to keep your eye on the ball if we run from news article to article. On any given day you can find editorials of great optimism or pessimism, with both sides citing certain statistics while ignoring others.

Plain and simple, the distressed asset is the New Normal for most markets.  Don’t be the deer caught in the head lights - get in front of the issues and get yourself educated and prepared to negotiate short sales for your clients. Don’t be afraid of making money by providing a valuable service to your neighbors. Be prepared and get a system in place to grow from rich while saving people from the horror of foreclosure.

ShortSaleSpeedway™ is the solution to closing short sales without having to pay a third party and still being compliant. Now get out there, help some homeowners and make some money while you’re at it.