short sales: Foreclosures Continue to Increase
- 12/10/09 09:49 AM
Foreclosures Continue to Increase: 12/10/2009 November's foreclosure flings surpassed 300,000. The unemployment rate reached 10 percent, and is expected to continue to increase until the first quarter of 2010. Defaults Last month 306,627 properties received defaults or auction notice or were bank seized, which is one in every 417 household in the U.S. RealtyTrac predicts the numbers will be similar for the month of December. During the months of January thru November, there have been 3.6 million foreclosure filings. In Nevada, one in every 119 household received a filing during November, which is the highest foreclosure rate for the 35th month … (0 comments)
short sales: Asset Management Companies are jumping on the Short Sale "Bandwagon"!
- 12/02/09 04:28 PM
We've all heard about "Phantom Inventory" and the next "Wave" of foreclosures and subsequent REO's, but right now Short Sales are the thing. In my Market, they're everywhere. About six months ago we saw a slowdown in REO's due to loan modifications, moratoriums and Short Sales. I sent query letters to all of the asset management companies that I work for to see what their thoughts were about managing Short Sales. I received a mixed review. Mostly comments like,"we've considered handling Short Sales but are not currently interested, thank you for your foresight". Well, things are starting to change. Finally......... at least one progressive asset management … (7 comments)
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Rudy Detgen
Realtor, Real Estate Agent, Homes, REO - Moorpark,...
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