Lack of foreclosures bad for the Real Estate market?

According to Diana Olick of cnbc,  foreclosures are down because of all the regulations imposed by states, especially CA. Now banks have to show proof of loan ownership before they can foreclose. That’s tough since the loans were “sliced and diced”.

The market has changed because of this. The abundance of cheap properties bought by investors to fix and flip or to fix and rent has dried up. Now the higher priced houses are selling.

However, we still have the overhang of under water properties. Since i am dealing with a situation like this myself in trying to dump a family member’s condo, i know first hand how difficult it is to get an intelligent answer from anyone. Wells Fargo has been good about this but it’s fannie mae who is being ridiculous. Our govt at work!!!

To learn what really works in today's real estate market CLICK HERE

Be Sociable, Share!


Lack of foreclosures bad for the Real Estate market? — 4 Comments

  1. I think this is among the most important information for me. And i’m glad reading your article. But should remark on few general things, The site style is great, the articles is really great : D. Good job, cheers

Leave a Reply

Your email address will not be published. Required fields are marked *