For those of you who want to wait until spring (again) to sell...

Have you seen some of the headlines lately? "Foreclosures Fall to Lowest Level in Nearly 3 years."

Do you know why foreclosure filings are at a new low?

Do you think it's because foreclosures have gone away OR perhaps because lenders are now required to follow the rules and are no longer cutting corners (at least not as much as before)?

Would that mean that lenders are slowing down, making sure the i's are dotted and the t's are crossed before foreclosing?

Once the i's are dotted and the t's are crossed on the backlog of foreclosures, do you think the lenders will want to wait and hold on to the properties OR quickly dump them on the market to cut their losses?

So now that you've given it some thought...does waiting to compete with more and more supply and selling for less money really sound like a good financial decision?

Click on the title above or the link below to review the entire CNBC article.
http://www.cnbc.com/id/45682960

IF only headlins were true...

"Foreclosures Fall to Lowest Level in Nearly 3 years." This must mean that things are all better...right? Sure...IF you only read the headline and not the entire article.

After reading this and realizing that most people will in fact only read the headline, I asked our real estate expert Kirk Nace for his take on this and this is what he had to say. "We are seeing foreclosure activity initiated on approximately 250,000 properties per month. That's a 3 million properties per year pace. Now that NAR is admitting that their sales numbers have been off you will see that there are only about 3 million sales per year. What does that mean? Banks are foreclosing on approximately 60,000 properties per month. What is happening to the rest? Is the backlog just growing and growing and growing? What does that mean for future supply? And for prices?"

Click on the title above or the link below to review the entire CNBC article.
http://www.cnbc.com/id/45680619

1 + 1 = 5?

For years NAR has claimed that the number of home sales have been above 4 million, while our real estate expert Kirk Nace has claimed that's just not possible. Guess what??? NAR has said this week that they've done some double counting and sales were weaker than they thought.

Click on the title above or the link below to review the entire CNBC article.
http://www.cnbc.com/id/45659547

Are we there yet???

It is a question that is on everyone's mind. "Are we at a bottom yet?" The answer that I've heard for years now from most Realtors, Brokers and the Media is..."Not yet, but next year will be better."

So with next year just a few weeks away we asked Kirk Nace for his take..."The AVERAGE loan in foreclosure (not yet foreclosed on) has been delinquent 631 days!!! Set aside all the nonsense NAR, your politicians and others tell you and simply consider how long it will take to get caught up at this pace! As I have shared for several years now, the bottom of the housing market nationally will NOT occur before the 2nd half of 2016 at the absolute earliest!!!"

Click on the title above or the link below to review the entire CNBC article.
http://www.cnbc.com/id/45507581/