1.65 Million and Rising

1.65 Million and counting. That’s how many homes have received foreclosure notices this year. In case you didn’t remember, this year is only half over! We’ve got six more months of … well, hopefully less people losing their homes, right?

If the trend continues, RealtyTrac estimates that 3 million properties will have foreclosure filings and more than 1 million will end up being repossessed by banks.

This reinforces many people’s views that while efforts are being made to control foreclosures, the “shadow” inventory will keep throwing things out of balance for years to come.

Do you think things will get that bad?

So will competing trends be able to balance each other out? Will old properties on the market be picked up faster than new ones enter it? Are there enough motivations out there to keep serious investors buying despite the instability?

And just in case you thought some trends were changing, Nevada, Arizona, and Florida still lead the nation in foreclosures. So that’s either the best or worst place to invest or live. Guess the choice is up to you.

Let me know where you’re headed. Where do you see the best bang for your buck? And how would you rate your confidence in the housing market? Share your concerns with others and together we’ll come up with a real plan.

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