• Current Housing Statistics Look Grim

    Date: 2010.07.30 | Category: Uncategorized | Tags: ,,

    Short Sale Power Hour

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

    First, if you took our videos last week to believe that you should run and hide from this state of affairs, you are absolutely wrong. We impart this information with you so that you can stand facing this market head on. We’re simply trying to be realists and move our approach as the market changes.

    One article comments that the US economy appears to be in discontent as the effects of government stimulus are already wearing off. Also worth noting is that a double dip recession is very improbable due to historical precedents. Nonetheless, Kevin wonders aloud how we can experience a double dip recession if our market never improved. The financial system has constantly been awful. Also mentioned in other articles was the national mortgage deliquency rate. It rose to 9.2% in May, up 2.3% from a month previous 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 study articles like this, realize that there is an opening to help citizens out. Don’t run and be frightened. There will always be buyers and there will always be sellers. People have to have a space to live in. Each house is marketable at the appropriate price.

    It is crucial to note that the non-current mortages are really at a 12.4%. That is appalling, because the historical standard is close to 1%. One other great statistic to note is that the average number of days elapsing between when a mortgage becomes 30 days deliquent to foreclosure auction reached a record high of 449 days. So, from the instant that a house owner is a month late in payments, they are not losing their house for 14 months on average.

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

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