In Walton County there has only been a 50% increase of Lis Pendens for the year to date figure. The market is stonger now than it was even six months ago. Although I notice a lot of price decreases on the local "hot sheet" report that I review daily, I am also beginning to see a few price increases.
I would be happy to further discuss at length if you wish.
Kelly Klein, Broker
Lifeguard Real Estate, Inc.
I have talked with several Banks and Lenders and yes there is definitely many more SS and Foreclosures on the horizon. It's true that many Lenders are holding out for higher prices for longer periods of time...they need to release more so we can sell them!!! Good luck in your journey :)
If you would like to contact me directly please feel free to do so. Sincerely, Karen Oliver Beachy Beach 30A Real Estate 850-960-2555
Hope this helps a little, as we feel the bottom was last year and anyone looking for a "deal" has about another 12 months to get in on the action. Good luck to you !
I know a woman who has not paid on her mortgage in more than 4 years. Moved out when lis pendens was filed about 3 years ago. House has not been foreclosed yet, not even any further action taken by the bank to pursue the foreclosure. This is not the only person I know of in this situation.
No matter what actually shows up on the banks rolls of inventory owned, there's much more hiding in the shadows.
I don't think anyone knows for certain at what rate banks are releasing their owned properties but I suggest calling a few larger banks in your area as they might be able to give you a better idea or at least point you in the direction on how to find out.
I read that some agents in California are accusing the banks of holding onto their properties longer than is necessary because home values are rising in some areas. They say that the banks are waiting to release their inventory so as to obtain a higher price as the market values rise in these neighborhoods so the homes are sitting for a long while vacant.
Prudential Connecticut Realty
I've given them hundreds waiting a dripple; nothing!
It could be tomorrow, and it could easily be next year:
The Government is putting no pressure on them to release the inventory,
and you know that they work by incentives.