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Cash Buyers Lists News
While foreclosures have decreased nationally this year to an 11-year low, there are areas of the country which are showing a surprising increase in foreclosure activity. This may be due to differences in the way specific regions are recovering from the great recession, or because of more recent impacts to local economies driven by things such as changes in oil prices. As reported recently by REALTOR(R) Magazine, according to RealtyTrac and ATTOM Data Solutions, states seeing recent increases in foreclosure activity include (in order of increase): Delaware, Arizona, Utah, Connecticut, Oregon, South Carolina, Massachusetts, and Virginia.
The article also offers a visual heat map that you can review to see the changes in foreclosure activity in the specific areas you serve. And even while foreclosures have declined overall, there are still 1.4M residential properties nationally that have either been abandoned by their owners during the foreclosure process (so-called "zombie" foreclosures) or are bank-owned but still vacant-especially in Florida, Michigan, Ohio, Illinois, and Georgia. Banks are eager to get rid of these properties to help ease low inventory concerns.
Knowledge of distressed property transactions is a skill that certainly gains prominence when the national economy is struggling (as it has been), but holds value at all times. It is a perennial skill. There will, unfortunately, always be areas of the country experiencing a downturn. There will always be former and future clients in your market who may face individual hardships over the years and will need your help at a difficult time. You will want to be ready for these situations.
This month's featured course is Short Sales and Foreclosures: What Real Estate Professionals Need to Know, which leads to the Short Sales and Foreclosure Resource(R) (SFR(R)) Certification. The course supports the ongoing demand for real estate professionals who know how to successfully navigate distressed property transactions for seller and buyers.
The course and certification give you a framework for understanding how to direct distressed sellers with confidence and compassion; both offer downloadable and digital resources that you can retain and access when you need to brush-up on any of the information as the need arises.
For more information, visit www.realtor.org.
Knowledge of distressed property transactions is a skill that certainly gains prominence when the national economy is struggling (as it has been), but holds value at all times. It is a perennial skill. There will, unfortunately, always be areas of the country experiencing a downturn. There will always be former and future clients in your market who may face individual hardships over the years and will need your help at a difficult time. You will want to be ready for these situations.
This month's featured course is Short Sales and Foreclosures: What Real Estate Professionals Need to Know, which leads to the Short Sales and Foreclosure Resource(R) (SFR(R)) Certification. The course supports the ongoing demand for real estate professionals who know how to successfully navigate distressed property transactions for seller and buyers.
The course and certification give you a framework for understanding how to direct distressed sellers with confidence and compassion; both offer downloadable and digital resources that you can retain and access when you need to brush-up on any of the information as the need arises.
For more information, visit www.realtor.org.
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