Well, I have a million thoughts running through my head about the residential real estate market in 2009. I think the following will happen:
1. Foreclosure inventory will grow and at an incredible rate. The banks are sitting on huge amounts of inventory and most of this inventory will come on the market [...]
Here are the numbers:
Active Properties for sale: 1667
Foreclosures: 717
Sold Last month in October: 305
Foreclosures or short sales: 135
Inventory: 5.46
Hot Property for the week: 251 E 17th Street, Seal Beach, CA
Probably one of the most common questions that I hear negotiating Short Sales in Los Angeles and Orange County, California is:
“Do I have to be behind on my mortgage to do a short sale?”
It is a totally logical and fair question. Unfortunately, there is no really clear cut answer. It all depends on your particular [...]
I just got back this week from the 2008 REOMAC Fall Conference in Hollywood, Florida. The event was attended by approximatley 2,000 industry people including asset managers, portofolio managers, REO brokers, attroneys and service provides. The event was more than half the size of thhe 5 Star Conference in Dallas last month. This gave the [...]
Wow. That is all I can really say about the recent economic meltdown on Wall Street. We all knew it was coming, but didn’t know what “it” was going to look like. The good news is that with every market there are great opportunities. One such opportunity is right on my [...]
Every newspaper seems to be headlining with the Failing Banks!
In case you don’t know what the ‘Watch List’ is..think of it as the list of banks the government thinks will fail. pGuess what, finding the list of banks on the list is nearly impossible. The FDIC doesn’t publish their list! pI read that the FDIC [...]
This is a recent article in the Wall Street Journal about the new development downtown Long Beach. Amazing.
Mark Shandrow
Keller Williams Realty
Condo-Minimum
Developers Turn to Auctions to Shed Units
By JONATHAN KARP
September 10, 2008; Page C15
With the condo glut growing as new towers are finished, and buyers walk away from presale contracts, developers increasingly are resorting to auctions [...]
In this video I talk about one of the secrets to buying a foreclosure. This is going to be the beginning of a series of videos to help real estate buyers learn about buying foreclosed property. I am an REO agent. This means that I work for the banks to help them sell their foreclosed [...]
This just came in from my real-estate coach Tim Harris at www.timandjulieharris.com. Great article.
Foreclosures accelerated to the fastest pace in almost three decades during the second quarter as interest rates increased and home values fell, prompting more Americans to walk away from homes they couldn’t refinance or sell.
New foreclosures increased to 1.19 percent, rising above [...]
This was a great article from Barrons about Fannie and Freddie.
Shares of Fannie Mae and Freddie Mac have declined by approximately 90 percent from the previous year and both companies are reporting quarter-over-quarter losses, leading some to believe than a government take-over or complete privatization is imminent.
MAKING SENSE OF THE STORY FOR THE CONSUMER
· According [...]
