Foreclosed homes are really the only thing selling these days! "People are looking for a recession proof investment or value ie: DEAL . The majority of homes being bought today is by investors and first-time buyers..
The government's own mortgage modification program created to help home owners avoid foreclosure "Is doing nothing more than prolonging the housing recovery and making things worse
The Making Home Affordable program has only helped 118,000 mortgagees modify there home loans since last April. Only 830,000 people have qualified for the trial modification the program being offered by the government.
Some 4.5 million homes are expected to fall to foreclosure this year, following 2.8 million in 2009. In contrast, existing homes sales for the two-year period will average about 5.5 million. The Lending Institutions all have "Shadow Inventory" being held. This ultimately will affect our current market when released. The long and short of simply put "NOW IS THE TIME TO BUY" The lending market is tightening there strings and making it tough for everyone. You want to avoid the tougher guidelines and move quickly before it's to late!
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