The Truth in the News #9 Are the Low Number of Foreclosures Stalling the Housing Recovery?
In this video I ‘Unpack’ a recent CNBC article where it is reported that the number of foreclosed properties last month are at a 40 month low. The article discusses it’s impact on the housing recovery. I provide my feedback and analysis regarding this phenomina and what the role of short sales and loan modifications are playing on the slowdown.
This video provides an analysis of the Bay Area Real Estate market and how, in spite of many media reports to the contrary, we are seeing the inventory of foreclosed property drop. In fact I recently pulled statistics and found that the number of homes entering the foreclosure process are currently at 2006 levels. I also know that there are millions of homes with distressed mortgages across the country so eventually these will make their way to market in the form of a short sale or bank owned property.
