Is it time to buy yet? Are we on the bottom? We are sitting on the bottom. There is another wave of Pre-Forclosures and Foreclosures coming with the 5-year arms getting ready to reset. See this excerpt from Reuters.
HUD sees signs of stabilization WASHINGTON – May 1, 2009 – The housing market is looking healthier, but U.S. Housing and Urban Development Secretary Shaun Donovan said Wednesday that it is too early to tell if the recovery has taken hold.“We do have some early signs, I think, that the market is stabilizing. Since January, what we’ve seen is both prices and sales volumes moving up and down around a relatively stable number,” Donovan said. Donovan said he was optimistic that President Obama’s policies are bolstering the market.“I think in particular when you get below the national level what you see is that in markets like California that were the hardest hit, that is where the signs (of recovery) are the strongest,” he said. Source: Reuters News (04/29/2009)
Its Fishing season for deals. With thousands of people in Financial distress short sales have become a very viable investment or end user option. It helps the homeowner come from underneath a bad real estate purchase and in many cases shows up on their credit report as "Paid as Agreed". It also helps the bank avoid the Forclosure expense and minimizes the pain for both the Homeowner and Financial Institution.
For Information on Short sales or Foreclosures visit my website at www.NaplesMarcoislandproperties.com or contact me at:
Kurt Petersen CDPE, CIPS, ABR
"Certified Distressed Property Expert"
Broker-Associate
Amerivest Realty
239-261-9719
kurt@premierworldwideproperties.com
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