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Archive for October, 2008

Finally…Some Positive Foreclosure News On The Horizon

October 23rd, 2008 categories: Foreclosures / Short Sales, Loans / Financing, Market Update

Despite the current mayhem and chaos on Wall Street and in the world’s financial markets, there may be a glimmer of hope on the horizon, as we may finally be on the brink of a major change in the foreclosure landscape.

That’s because we’re about to enter a period where fewer and fewer of those ugly subprime loans will reach their initial reset date. And those adjustable rate resets – where a borrower might have seen his or her payment go from an affordable $1,800/mo. to an unaffordable $3,500/mo. – are the root of the mess we’re in right now. Read the rest of this entry »

Written by Rod Herman | Discussion: No Comments »

How Many Foreclosures Does Your City Have?

October 23rd, 2008 categories: Buying, Foreclosures / Short Sales, Market Update, Selling

A little over a month ago, I posted a chart illustrating how many distressed properties are on the market in the various communities within our market area. About six weeks have passed since I downloaded the data for that report, so I figured it was probably time to update the data and see if there have been any changes.

Well, if you’re a buyer, the news is good. If you’re a seller, it’s not so good – at least if you look at the overall numbers across all 19 cities in our market area. Before I get into the current data, let’s briefly recap the figures from my last report, which was based on MLS data as of Sept. 11. Read the rest of this entry »

Written by Rod Herman | Discussion: No Comments »