Will Falling Values Lead to More Strategic Defaults?

Asked by The Pierre Team, Fresh Meadows, NY Sun Mar 4, 2012

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Phil Rotondo, Agent, Melbourne, FL
Mon Mar 5, 2012
BEST ANSWER
"Falling Values" sounds so negative.
Maybe we should change it so it reads just like strategic defaults. Something like:
"Will the degregation of monetary worth usher in a floatilla of strategic defaults?"
And if you say it with a smile it won't seem as bad.
Web Reference:  http://www.321property.com
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Lorrie Feld,…, Agent, Scottsdale, AZ
Sun Mar 4, 2012
It's happening right now in Arizona. Just finishing up on 3 strategic defaults. We are seeing more of them happening. It's really more of a business decision these days, and sometimes a wise one.
Lorrie Feld
Keller Williams Integrity First
Web Reference:  http://www.azrealtygroup.com
1 vote
Chris Schill…, Agent, Houston, TX
Mon Mar 5, 2012
As the mountain of shadow inventory comes online if demand remains constant, values will be pushed down in markets where the bulk of this inventory is pushed into the system. Some estimates have this number still above 1 million homes that banks own from defaults that need to come online and sold into the market. We aren't out of the woods yet.
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