Realty One Group
National Association Home Builders recently mentioned that the mortgage default rate is on the rise again-highest since the Great Recession. With average mortgage interest rate of 3.58% and full employment how possible is it we are seen a rise in default rate? The speaker did not quantify the rates. As late as 2010 most lenders claimed everything was fine there was nothing to worry about. Shortly the entire America was flooded with bank owned properties in every town.
My personal observation is there are some bank owned properties surfacing again locally. Auction sites are again advertising REO properties and had very ambitious goals wanting to get better than market price. I have worked and showed a few looking for basement bargains. They mostly require a 5% service fee from the bargain hunter.
Sam Shueh (408) 425-1601
Silicon Valley Realtor
Sam Shueh Realtor
I've called San Francisco South Bay home for over many years. We love this area and all it has to offer, and I enjoy sharing what I know about homes. I documented in several books about Silicon Valley history. I have much expertise in real estate...please give me a call.
Silicon Valley Realtor Sam Shueh Website (Four-O-Eight) 425-1601