Foreclosure Information

Based on current data for unemployment, foreclosure stats and mortgage applications coupled with the recent foreclosure moratorium, the normalization of the market has been extended an additional 18 months, with the estimated supply of REO now at 3 years. As a result, short sale and REO activity will continue to grow as lenders attempt to stem the rising foreclosure inventory by utilizing short sale in lieu of loans going to REO. The volume of foreclosures will continue to grow through 2011 as underemployment and unemployment wreak havoc on the borrowers and their inability to refinance due to high LTV and income issues. If you are looking to buy a Foreclosure in the Brentwood/ Discovery Bay area or looking to sell your home in a short sale please give us a call today!

Keller Williams
“Team Elite”
191 Sand Creek Rd. Suit 100