The latest bit or real estate news that you should keep in mind is that mortgage delinquencies are down. Seriously down – like 22%. We’re seeing people across the country getting back on their feet, meeting their refi repayment schedules, and generally getting the real estate market on sound footing.
This means an opportunity for short salers but it’s also a warning. As I’ve told you from the beginning there’s money to be made in down markets and up markets. You need to get in the game quickly to still get the best deals.
Delinquencies this year have totaled $96.3 billion which between you and me is just enough for us to share. If you can find the right buyers there’s still a home out there that the banks will be happy to part with.
So get moving now. Looks for homes bought between 2005-2007; those are the mortgages that make up 64% of delinquencies. Then get your buyers lined up (I can help with that, hint hint).
Let me hear what’s happening in your neck of the woods and if you’re finding the deals out there.