The Halt of Foreclosures

By
Real Estate Agent with J Wood Realty BK3105105

Think Big, Work Small is one of my favorite sources of information regarding what is happening in Real Estate.  It is emailed to me daily and contains humor, outrage and very important topics regarding the realty environment.  This morning was about the facts concerning the latest move by several lenders to cease all foreclosures.  I have included the link for you to explore.  http://www.thinkbigworksmall.com/mypage/archive/1/53928/

There are many opinions as to how this cessation is going to affect everyone from Realtors to homeowners and I can see all sides as having some merit.  In my neighborhood, there have been many REO homes sold and the result has been the steady depreciation of the prices here.  We are back to valuations of 2000-2001.  If the prospective buyers had no REO homes or shortsales to choose from, perhaps we could begin a modicum of recovery.  On the other hand, if these underwater homes do not get pushed through the system now, it is only a matter of time until the situation is resolved and they come flooding back on.

Some pundits say that the stoppage of the sales will kill the ever fragile economy by putting everyone from title companies to home improvement companies out of work.  It seems that there is just no way out of this mess that will not hurt some group during the process.  So, I will try to look for a silver lining and continue to work with buyers and sellers, navigating the best way I can through these swampy waters.

 

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 Looking for a great real estate agent in the Sarasota area?   click here! 

Marnie Matarese |Broker Associate | GRI|RSPS|SRES | J Wood Realty  

 

C: 941-809-8099 | O: 941-922-7600

5 Star Agent: Best in overall client satisfaction 2008 - 2012

m@agentmarnie.com     

 

330 South Pineapple Avenue #113

Sarasota, Florida 34236

 

  

          

 

 

 

 

 

 

 

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Rainmaker
228,423
Doug Dawes
Coldwell Banker Residential Brokerage - Georgetown, MA
Your Personal Realtor

Yes, yes & yes. We have to remember that we are not the arbeiters of value. In the end we actually are sellers of the market. Today the market is what it is and homes sell at what the market will bear. We have to remove ourselves from the emotion

Oct 12, 2010 08:14 AM #1
Rainer
190,156
Jon Budish
Resident Realty - Fort Collins, CO

My fear is that lawyers will smell the blood in the water, and see this as a potential cash cow. If that happens the costs of settling the endless lawsuits will create chaos that's hard to overcome.

Oct 12, 2010 08:17 AM #2
Rainmaker
106,199
Nancy Stemmle
Remax Affinity Group - Charlottesville, VA

Thanks for the link. I found it very informative. Actually keeping it for Team Meeting info.

Oct 12, 2010 08:22 AM #3
Ambassador
1,648,991
Fernando Herboso - Broker for Maxus Realty Group
Maxus Realty Group - Broker 301-246-0001 - Gaithersburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

Swampy waters it is and we need to watch out for crocodiles. . . 

Oct 12, 2010 08:31 AM #4
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Rainmaker
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Marnie Matarese

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