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17,000,000 Homes

By
Real Estate Agent with Renaissance Realty Group of Keller Williams Atlanta Partners

Current numbers show that 17,000,000 homes expected enter the foreclosure list

A break down by the numbers

3,000,000 Homes currently owned by the bank via Foreclosure

4,000,000 Homes currently owned by Fannie Mae Freddie Mac

an additional 10,000,000 homes purchased between 2005-2007 underwater - preparing for strategic default .

= 17,000,000. Grand Total of Homes are headed for foreclosure (or already in foreclosure)

Now Granted Short Sales and Loan Modifications can and will prevent some homes from entering the foreclosure process but remember there are roughly 5,000,000 TOTAL homes sold per year. and current REO  inventory suggest a 3 year supply of inventory and that does not include 'traditional" resale and Short sale inventory

If your looking to buy a home now is the best time ever .

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If you or someone you know is thinking of buying or selling a home have them give me a call .. we will get it done ...right 

Eric Reid 

Associate Broker

Keller Williams Atlatna Partners
Team Leader 
Renaissance Realty Group

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