There is an interesting artile in HousingWire that talks about the fact that at the current level of foreclosures and foreclosure slaes, FreddieMac will take approximately 15 years to get through the mess. Ouch!
How long will it take FanieMae?
We could be in this mess along time.
All I can say is Wow! That is a heck of a long time and a heck on an inventory. There a lot of agents that would love to he;lp with this process. Thank for sharing!
Our past experience with a foreclosue debacle occured in the '80s when real estate was in the tank and the economy followed suite. It took around 10-12 years back then for things to straighten out. This time it's probably going to take longer with total incompetence in Washington. Sad to see. It's hard to work through crap like this.
I can't believe it's going to take that long. Maybe the banks should read this and become easier to deal with on short sales so the banks won't have the REO inventory to deal with. At these rates, maybe the originally foreclosed upon home owner will be able to buy his house back.
James ... I am standing in line also to help with this mess ...
Jeanne .... I was not on the business at the time but bought my first home back than and it took nearly 10 years to appreciate ... and than it did at a CRAZY rate ...
Debbie .... I think they are approving more short sales ... or at least that is what I have seen by tracking market statistics in my area and personal experience
Comments(4)