Current Trends Category
The downturn in this economy has been devastating to millions of homeowners who lost their homes to foreclosure and to those who are in danger of losing their homes in the near future. Fortunately, we are beginning to see some light at the end of the tunnel—and it’s not another train. This blog discusses several recent changes in the way some lenders are handling foreclosures and short sales, which in turn make the job of an agent more doable and realistic. We have a ways to go, but it seems to me we have turned the corner!
Here’s the Skinny: Good and Bad
1. CoreLogic recently reported that there were 830,000 completed foreclosures in 2011 compared with 1.1 million in 2010—a notable decrease. This doesn’t mean we’re seeing an end to the cycle, but we’re finally going in the right direction. With some of the changes listed below, we could possibly get there faster than we previously thought. They also reported that there were 1.4 million houses, or 3.4% of all homes with a mortgage, in the foreclosure inventory (this is not the American Dream). You can see more of the CoreLogic report here: www.tinyurl.com/6w9×4px.
2. In 2011, first-time homebuyers were the Read the rest of this entry »
Unfortunately, there are those pundits who would have us believe that the distressed property crisis is coming to an end and it is just Not So. I saw this article, “Bank strategy backfires in foreclosure crisis” written by Loren Berlin of the Huffington Post and it reminded me of conversations that I have had and heard regarding the future of distressed properties. Make no mistake about it, we are far from seeing an end to this crisis regardless of what the politicians or writers say.
Selling and listing distressed properties is still a very active part of the real estate market and it is amazing to me how many real estate agents who lack sales and income still ignore the possibilities in this market segment, and the knowledge a person needs to be successful selling Bank Owned Properties and Short Sales is available in a number of courses and two of the best are CRS 111 and 112, and can check them out at www.leroyhouserseminars.com
This article contains some very relevant and eye-opening statistics that would be worthy to note and pass along to your FRIENDS. Here is the link: http://www.presstv.ir/usdetail/222483.html
This article in Realty Times, “Choosing to Sell,” by Carla Hill reminded me of the fact that most of the current sales and marketing material I read is about buyers, or if it is about sellers it is usually related to pricing and this article is different. The focus of this article is counseling the Seller on selling or not selling their home. Sellers today are facing entirely different issues that sellers in the past have faced for a number of reasons. One of the most important factors that sellers and salespeople confront is that many or most sellers are not selling thier home because they want to but in many cases it is because they must, and another issue is that buying a home today is totally different than it ever has been. Buyers with excellent credit and employment are frequently turned down for loans. This article contains some excellent information to convey to your Sellers so that they understand the challenges and are prepared for them when and if they occur.
This is one of those articles that may cause you to see Seller Challenges from a different prerspective, and I hope that you will consider reposting it on your Social Networks and on your website. Here is the link:http://tinyurl.com/ck7r6v9. Hope that your Christmas Holiday is everything you want it to be.
LeRoy