Report: Results in RE Market…slow & steady finishes the race!
I am sharing an article (or actually a report) on the 1st Quarter results from the FHFA (Federal Housing Finance Agency) on the Government programs HAMP and other methods of moving through this CORRECTION. The headline states: 1.7 Million GSE Loans at Least 60 Days Past Due
and goes further to say how that is down 1.3% which is the the 1st time it is down in 2 years! This is like saying the damage is showing improvement!!! Nonetheless it is progress. Furthermore (which is really why I wrote this blog) is that SHORT SALES (and deed lieu..yuck) were up 23% from Q1. YAY!!!! SO their programs are not helping as much as the short sale position by the real estate professionals (you and I) but it is contributing. Short sales aren’t pretty and they are not easy, but they will make and handle the entire aspect of a defaulting market (seller, property, lender, agents, buyer, attorney, new loan, improved community etc.) than any other strategy, program that involves liquidating an over-leveraged asset (the house) and getting the process to move. That is why slow and steady finishes the race….please read on.
http://www.dsnews.com/articles/report-17-million-gse-loans-at-least-60-days-past-due-2010-06-23
Remember…
Keep it short,
Mike Knows
Posted in Short Sales
One Response to “Report: Results in RE Market…slow & steady finishes the race!”
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It sure is starting to add up. 100,000+ foreclosures in SEPT 2010 alone. More to come. Who is out there adjusting and positioning their real estate business to move with the market?
As Mike knows….you need to get this short sale things down because its going to be a major part of the business for a while.
Kevin
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