Short Sale Power Hour

Last week we chatted about the waning house sales in America. They fell 30% from May to June. Those videos were filmed on Monday, July 5th and ever since that time there have been tons of articles supporting what we are saying.

Firstly, if you took our episodes last week to think that you ought to run and hide from this situation, you are entirely wrong. We share this information with you so that you can stand facing this market head on. We’re merely trying to be realists and move our approach as the market changes.

One piece of writing notes that the US economy appears to be in turmoil as the effects of gov’t stimulus are already wearing off. Also worth noting is that a double dip recession is extremely doubtful due to past precedents. However, Kevin wonders aloud how we can take part in a double dip recession if our economy never improved. The economy has constantly been awful. Also mentioned in other writings was the national mortgage deliquency rate. It grew to 9.2% in May, up 2.3% from a month earlier and up 7.9% from a year earlier. This makes you question how mortage deliquencies are going up, but there was a spike in our economy.

When we scan articles like this, understand that there is an opening to help citizens out. Do not run and be fearful. There will at all times be buyers and there will at all times be sellers. People have to have a residence to live in. Each house is saleable at the suitable price.

It is critical to note that the non-current mortages are really at a 12.4%. That is awful, because the historical standard is close to 1%. One other impressive statistic to note is that the average amount of days elapsing between when a mortgage becomes 30 days deliquent to foreclosure sale reached a record high of 449 days. So, from the time that a house owner is a month overdue in payments, they are not losing their home for 14 months on average.

We will also be teaching a Short Sale Crush It class that continues to get better. Preregister for that August 13th seminar at shortsalepowerhour.com

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