According to some "experts" now, getting rid of the foreclosures will assist those who still can afford their property.

Well, that is something I have said over and over again for the last five years.  When will the investors learn that dragging this thing on and on and on only ultimately hurts their bottom line?

"While some of the 2.2 million loans in foreclosure can still be saved, many are too far gone, they say. Some 37% have not made a payment in more than two years, while another 34% have not made a payment in 12 to 23 months, according to Lender Processing Services."

If we had some realistic timelines to disposing of property that has been foreclosed upon, or is in a short sale, we could reasonably expect that the market might, I say might, recover a lot sooner. 

What are they waiting for?  Move the short sale process along, get the best price you can get, and get the properties off the market sooner rather than later.

 

Don Sabinske, Broker, GRI

www.donsabinske.com

Sabinske & Associates Inc.

763-350-7960

 
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4 Comments on Getting Rid of the Foreclosure Market....When?

SEP
20
2011
596,296 Points 70 Featured Posts Outside Blog Called Shot Master

AMEN!!!  You tell them Don.  :)
4:57pm • #1
SEP
21
2011
1,471,702 Points 27 Featured Posts Outside Blog Called Shot Master

Good post.  In Montgomery County, Maryland, the inventory of lender owned foreclosures is now very low.

Thanks for the re-blog!

Have an outstanding day and be sure to have your camera in hand to capture those special moments.

 Life is good!

Longwood Gardens Photograph by Roy Kelley.

Roy and Dolores Kelley Photographs
7:44am • #2
698,281 Points 15 Featured Posts Outside Blog Called Shot Master

I know we still have a lot to get through before our market returns to normal.  But, it is so depressing. 
4:21pm • #3
JAN
13
501,489 Points 40 Featured Posts Called Shot Master

I agree with you all the way. I also don't like it that the banks are sitting on foreclosures and waiting to release them. That's a bit like pulling off the bandaid too slowly. Get them on the markets, sold and get it over with.
6:19pm • #4


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