I have a service, Foreclosure Radar, I use regularly and I actually subscribe to their newsletter. It keeps me informed beyond what I could research on my own. It's rich with information and I highly recommend it. If you are worried about foreclosed properties in your neighborhood and how they may affect the value of your property or just want to understand this market more, call me and I'll be happy to help you start getting educated about foreclosures and the process in California.
All the information in the past few days has caused a stir in the marketplace especially when someone like Bank of America halts foreclosures and then in a few days says, we're back on track in Judicial foreclosure states. It's important to remember that California is a non judicial process state. That means that the mess behind these signings may not be as bad here as in some places. I don't know a guess really on my part but it doesn't seem to me like it will be as bad.
Foreclosure Radar offers words of wisdom with each issue of their newsletter. On this month's issue they wrote.
Foreclosure Truth #4
No matter how viscious the foreclosure cycle, a bottom will be found as affordability returns, and investors begin to scoop up rentals with positive cash flow.
Believe it or not we are hearing investors say I want that property because it will cash flow when I make it a rental. That is a great thing for our housing market, for Long Beach and the economy.
For more information on the current market statistics go to the homepage on my website and click on the newsletter. I think you'll love some of the charts and information provided there.
Heather@HeatherandSarah.netSarah@HeatherandSarah.net244 Redondo Ave.Long Beach, CA 90803