Newest Foreclosure Trends

By
Real Estate Agent with Keller Williams Realty-Cupertino

BLOG 03/27/2007: If you would like to reinvest in other markets, take a look at the rest of the US.  Foreclosures follow community trends. Unemployment on the rise, foreclosures not far behind.  Interest rates rise, foreclosures not far behind.  We live in America and our taxes are like rent for living here.  Not without a price.  As We in California do pretty well, sure Gas and houses are high, yet we can actually afford to live here becasue we have jobs.  Did you know that the poverty level in Silicon Valley is 34K per year.  The affodability index rose and only 18 % of the population in California, can now afford to buy a home.   But the rest of the country is struggling.

I will not help in the foreclosure market, that is for another day.  I will help in a short sale scenario, and there is a difference-which I will explain at another time. Just be warned that if you buy a property in foreclosure from a seller-the statute of limitaitons for them sueing you, is 2 years!  If for whatever reason they deem worthy of going to court, they have 2 years time to bring about a claim upon the Buyer.  Usually, the seller doesn't get their home back, but they have been awarded hefty amounts for damages if they feel they were forced to sell!

So what is the best place to buy investment property, you ask???? Hot tip: Any place located along the Mississippi or East of the Midwest. 

People always ask me Is it a good time to buy? a good time to Sell?  It really depends on your personal needs.  Sometimes I have to tell people NOT to sell, and hang on to their property.  Over the past 100 years which has earned more, the stocks or Real Estate?  So sometimes we just hang on a little, specially if you live in Silicon Valley.  Please take note... we are not in a flipping market!  But if you do need help in the Flipping market-please email me with "Flip tips" in the subject line and I will send you more than enough info on what to do and when! 

Thank goodness, I have met hundreds of agents across the U.S., all with similar expertise, attitudes and professionalism.  Keller Williams has the largest network of agents close to 73,000 to be exact.  For the past 5 years I have paid for Professional Real Estate Coaching-Just like Tiger Woods has a coach... How do you think we get better?  If you are not learning-you are just staying the same.  I have probably spent close to 50K in just my Real Estate education alone over the past 5 years. I interview all Realtors that I refer to.

If you would like a list of secret vendors and also need help with relocation in another part of the state or elsewhere, please drop me an email.

Kathy Underwood-REALTOR

408-656-3386

Kathy@KathyUnderwood.com

Posted by

Kathy Underwood-CRS,CLHMS,GRI,SFR,CDPE,SRES
www.ActiveRain.com/KathySellsHomes
408-656-3386 

Comments (1)

Judy Greenberg
Compass - Long Grove, IL
Compass- Long Grove -Buffalo Grove

Thanks for the information on the 2 year suit.  That will keep me away from this type of business anyday.  Actually, the short sale business is not my cup of tea either. 

Apr 01, 2008 03:15 PM