The foreclosure situation continues to loom. RealtyTrac has published its latest numbers, adding to the doom and gloom which is hanging over the real estate industry. The media makes it hard to get us out of things. If we want to change things, we need to start thinking they are changing. That's hard to do when we are constantly being pumelled.
Here is some of what RealtyTrac said...
- 1 in 483 homes nationwide has receive a foreclosure notice in the month of May
- This is up 48% over May, 2007
- This is up 7% over April, 2008
- 74,000 properties where foreclosed on by lenders in May
- Another 58,000 received default notices
Of course, it's not RealtyTrac's fault that the number slook like this. These guys do a nice job of presenting the facts. I'm sure, at the same time, there is something positive to find in the data. It would be nice to hear about that, too. Thjere are markets where things are still groing. There are markets that are beating the national averages. Where is all of this positive stuff?
Here are a few things to be positive about
- Now is a good time to buy, deals are out there waiting to be made
- There are more choices now than anytime in the past several years
- Banks are still writing mortgages
So, if you are thinking about buying a home, now is a good time. You'll be there for the long-haul and there is much more upside ptential for real estate in the long run.