We need not accept the destruction of our money and our economy. The remedies are available and they are historic American remedies. We could establish the gold standard, balance the budget without raising taxes, and reform the procedures of the Federal Reserve. That is what this report is about.- Lewis E. Lehrman, co-author of “The Case For Gold”, 1982
New Observations is forecasting that a minimum of one in ten homes with a mortgage today will be lost to foreclosure in the next two years and that this loss represents a staggering five-million-unit addition to inventory-for-sale.
via Seeking Alpha.
Net cost to him of selling it himself: zero. Net cost to the real estate industry: about $15,000 in lost commissions – and one client who is determined never to use an agent again.
via The Globe and Mail.
When it comes to the housing market for foreclosures – buyer beware.
“One mistake that we see all the time is buyers going in and assuming all the mechanicals are working,” said Brandon T. Johnson, president of GTJ Consulting in Roseville, Mich. “You have to be careful you don't get burned that way.”
A struggling single parent and real estate agent is trying to sell her house and find a husband. Shes auctioning off both her home and her love in a package deal on eBay and Craigslist.
Soto owns nine houses in some of northern Hillsborough’ nicest neighborhoods. For close to a decade, he's been renting most of them out by the room and by the week — a practice that county officials say is entirely legal.
via St. Petersburg Times.
The twist on this article is that as the inventory numbers go down, prices will start to drift upwards, encouraging the shadow inventory and home-buyers sitting on the sidelines into the market increasing the inventory levels and driving prices down. I think you can start to see the possibility of that “Saw Tooth Recovery” in the titl
via Bigger Pockets .