If the battered real estate market has not already taken enough blows, get ready for another round of downward price pressure and increased inventory levels as a result of national mortgage lenders taking drastic steps to forego the rising tide of foreclosures.
A lender’s willingness to take a loss, consummate a short sale and forego an expensive foreclosure is about to soar. The reason is simple – the huge volume of loans falling into default. And a lender’s worst nightmare is owning all these foreclosed homes.
As a result of this wave of homes that will hit the market and the lenders’ willingness to sell at fire sale prices, there will be a major transfer of wealth that takes place. Buyers and investors that purchase real estate over the coming months will be the ones who gain and gain big.
As we prepare for the tsunami of housing inventory and the incredible prices that will accompany it, we are positioning buyers and investors to take advantage of buying these properties quickly as they become available.
Thursday, October 9th, 2008
Time: 6:30 - 8:30PM
Location:
Gateway Office Plaza
350 W Burnsville Pkwy
Burnsville, MN 55337
Register Online
Our nation is at an interesting juncture. Our economy and banking system is under incredible pressure; one of a serious nature.
The mortgages which were written between 2004 and 2006 paved the way for the collapse in real estate prices, which in turn has been pulling down all other areas of the U.S. economy. Currently there are over 1 million foreclosures across America. The frightening fact is that there are more than 6 million mortgages that are 30 days or more in arrears! This is potentially more serious than anything we’ve seen yet.
Posted: Sep 25, 2008
We are in the midst of tough real estate recession; the worst this country has seen in decades. Real estate prices in some areas have fallen to the point where many people are paying more on a mortgage than their property is actually worth!
Posted: May 14, 2008
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