Getting Rid of the Foreclosure Market....When?

By
Real Estate Broker Owner with Don Sabinske, Sabinske & Associates Inc.

According to some "experts" now, getting rid of the foreclosures will assist those who still can afford their property.

Well, that is something I have said over and over again for the last five years.  When will the investors learn that dragging this thing on and on and on only ultimately hurts their bottom line?

"While some of the 2.2 million loans in foreclosure can still be saved, many are too far gone, they say. Some 37% have not made a payment in more than two years, while another 34% have not made a payment in 12 to 23 months, according to Lender Processing Services."

If we had some realistic timelines to disposing of property that has been foreclosed upon, or is in a short sale, we could reasonably expect that the market might, I say might, recover a lot sooner. 

What are they waiting for?  Move the short sale process along, get the best price you can get, and get the properties off the market sooner rather than later.

 

Posted by

Don Sabinske, Broker, GRI

www.donsabinske.com

Sabinske & Associates Inc.

763-350-7960

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Topic:
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Location:
Minnesota Sherburne County
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Tags:
short sales
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Comments 4 New Comment

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Rainmaker
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Donne Knudsen
CalState Realty Services
Los Angeles & Ventura Counties in CA

AMEN!!!  You tell them Don.  :)

September 20, 2011 04:57 PM
Rainmaker
1,763,741
Roy Kelley
Retired Real Estate Broker, Maryland Blogger

Good post.  In Montgomery County, Maryland, the inventory of lender owned foreclosures is now very low.

Thanks for the re-blog!

Have an outstanding day and be sure to have your camera in hand to capture those special moments.

 Life is good!

Longwood Gardens Photograph by Roy Kelley.

Roy and Dolores Kelley Photographs

September 21, 2011 07:44 AM
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Suzanne McLaughlin
Wright & Sherburne Counties Realtor
Sabinske & Associates, Inc. (Albertville, St. Michael)

I know we still have a lot to get through before our market returns to normal.  But, it is so depressing. 

September 21, 2011 04:21 PM
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Debbie Laity
Your Real Estate Resource for Delta County, CO
Cedaredge Land Company

I agree with you all the way. I also don't like it that the banks are sitting on foreclosures and waiting to release them. That's a bit like pulling off the bandaid too slowly. Get them on the markets, sold and get it over with.

January 13, 2013 06:19 PM
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Rainmaker
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Don Sabinske

Sabinske & Associates Inc.
Relocating to Sherburne County? Call me!
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Additional Information

Real Estate Market Updates and Local Events that impact consumers in Sherburne, Anoka and Wright Counties.