Is The Worst Over?

(Quote) Hope doesn't come from calculating whether the good news is winning out over the bad. It's simply a choice to take action.
Anna Lappe

There have been alot of opinions going around about our market and if the worst is over. There are signs that the market may be stabilizing however; I feel that we need to keep our eye on the local market and weigh it against what is happening nationally. Often times the two do not align because of our relatively robust market compared to many areas of the nation that are having much deeper problems.

Keep in mind that this is an election year. Historically, those in politics that are trying to get elected, or get their candidates elected, are doing whatever they can to make people feel that they are better off than they actually are. Therefore, I expect we will see an even stronger push to help people keep their homes or short sale them.

I believe we will experience increased foreclosures, which is inevitable as some people have abandoned their former homes, or have no desire to go through a short sale. There is already a large inventory that falls in this category ( Ghost Inventory).

It is in the investors best interest to do whatever they can that causes the inventories to stay low. So the longer they keep the ghost inventories in the closet the better their chances of diminishing deep losses.

It is always a good thing to remain hopeful. I have so much hope in so many areas of my life that often times I get disappointed when I feel that my hopes and aspirations are not happening as they should or returning to me fast enough. I can only form the best opinions and judgment's based on the information that I have right now to be able to move forward in a positive way and from where I a m standing I can see that we still have alot of global issues to work out. We still have a large unemployment factor and as long as this is a part of our economy we will still see a large number of homeowners unable to pay their mortgage and forced to either short sale or foreclose.

Yes, I believe that the government is doing what they can to implement programs for homeowners to stay in their property however; experience has taught me that nothing happens exactly according to plan and there is always a wrench thrown in the mix. For example; when SB-458 was passed stating that there will be no deficiency judgment once the short sale is complete; they extended that to second lien holders. What did that do? It actually further irritated the second liens and made it more difficult to negotiate the payoffs as alot of times they want to increase the amount since they are unable to pursue the homeowner for more money once they short sale is complete. Some things in life are bitter sweet I suppose. Light and dark. You cannot have one without the other to some degree.

For me, I choose to keep working out my systems. Making sure that I have a strong team in place to prepare for anything that comes my way in this market as nothing is certain and everything changes.

Call us today and let us show you a system that works to help you expand your business and effectively and efficiently close short sale transactions.

LOTUS REALTY GROUP
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