High-Water Mark for Foreclosures

By
Real Estate Agent with Gate Arty & the Group - Keller Williams Realty

Foreclosures are at an ALL-TIME HIGH. In the 3rd quarter of this year 937,84 homes received a foreclosure letter. How do you put this in perspective? Well, that means that 1 in every 136 homes were in foreclosure. That's a 5% increase from the 2nd quarter. It's also a whopping 24% leap from this point in 2008! These numbers represent the worst 3 month stretch in terms of foreclosures ever. The foreclosure toll this year is reported to be 623,852 & climbing. Perhaps with these numbers on the rise, banks will begin being more cooperative with short-sales? Wouldn't that be rational? Either way, the real estate investors will be back in full-force to pick up REO properties & pre-foreclosures that are indeed priced to sell. Check out investing opportunities at MidFloridaREO.com.

Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!

 

Comments (2)

Richard & Janet OBrian
Home Based Realty - Palmdale, CA
Listing Specialist Palmdale, Lancaster CA

Agree we are still in the foreclosure world, but if you market is anything like ours you won't see them for sale anytime soon...  In the greater Antelope Valley we have 5,000+ bank own home sitting vacant.  And with our available inventory and an all time low, it appears the banks are falsely pushing up prices...

Oct 16, 2009 05:11 AM
Laura Gray
RE/MAX Realty Group - Gaithersburg, MD

Who knows if and when we will ever see the bulk of that inventory.

 

Freddie Mac and Fannie Mae held on to millions of dollars worth of housing assets from the Detroit area for years after the Auto industry crashed up there.

Oct 20, 2009 07:22 AM