Last week we talked about the declining home sales in America. They fell 30% from May to June. Those videos were filmed on Monday, July 5th and since that time there have been a lot of articles supporting what we are saying.
First of all, if you took our episodes last week to think that you ought to run and hide from this state of affairs, you are absolutely wrong. We distribute this information with you so that you can face this market head on. We’re simply trying to be realists and change our strategy as the market changes.
One editorial notes that the US economy appears to be in discontent as the effects of gov’t incentive are already wearing off. Also worth noting is that a double dip recession is highly doubtful due to historical precedents. Still, Kevin wonders aloud how we can take part in a double dip recession if our market never improved. The economy has constantly been horrific. Also mentioned in other articles was the national mortgage deliquency rate. It rose to 9.2% in May, up 2.3% from a month previous and up 7.9% from a year before. This makes you conjecture how mortage deliquencies are going up, but there was a spike in our economy.
When we glance at articles like this, understand that there is an opportunity to help citizens out. Don’t run and be worried. There will at all times be buyers and there will at all times be sellers. People have to have a home to live in. Every home is saleable at the proper price.
It is vital to note that the non-current mortages are really at a 12.4%. That is appalling, because the historical normal is close to 1%. One other great statistic to make a note of is that the average quantity of days elapsing between when a mortgage becomes 30 days deliquent to foreclosure sale reached a record high of 449 days. So, from the stage that a house owner is a month behind in payments, they are not losing their house for 14 months on average.
We will also be teaching a Short Sale Crush It session that continues to get better. Preregister for that August 13th session at shortsalepowerhour.com
Get powered up by Kevin and Fred at Short Sale Power Hour by the Short Sale Specialists of Arizona
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