Foreclosed Homes Rate Will Continue to Increase
July 5, 2008
An article detailing the prediction that no matter whom is elected as President, that the foreclosed homes rate will continue to increase. Both of the leading candidates (Obama, and McCain) have outlined their plans for addressing the homes foreclosures that are going on. But in order for those plans to succeed, mortgage lenders would need to eat losses that they may not be prepared to do. Quite simply: why should they take those big losses unless the government provides some sort of incentives for them to do so?
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Real Estate Quote of the Week
"I often hear remarks from agents like, “the bank sold that house really cheap - 30% below market value”. I don’t agree with that kind of statement. If various banks are the only sellers selling in an area and they are selling all of their houses at a perceived “below market” sales price - perhaps that IS the market for that product in that area. A good price fixes any of the various bad conditions. There is no good reason to take (or keep) a listing that isn’t going to sell."
Russell Shaw - in AgentGenius from Phoenix AZPolls
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