I was thinking after the holidays, the lenders might lose their soft heart or patience with various plans to keep home owners in their home. As I've mentioned before if we don't start seeing more inventory this quarter, I don't see why it'll change later for buyers.
On a positive for buyers, I did see two examples of short sales attempted and rejected by the lender. One of which should be going to sale today.
There are still a lot of buyers, who’d like to buy while mortgage interest rates are low. The Obama administration needs to let the natural foreclosure cycle happen and let buyers into homes who can afford to make the payments on their mortgages.
An example of a property that should have been foreclosed on months earler:
There was one up for sale today in Southwycke Ter., Fremont. The home is vacant, and by the looks has been vacant for a long time. The roof is leaking and the water has caused mold to set in. The home is being neglected and should have been foreclosed upon 6 months ago. I don’t know why the bank doesn’t put people on the ground to evaluate these properties before extending the foreclosure date. If the property is being neglected they should not delay the foreclosure process.
SUNIL SETHI REAL ESTATE
Sunil Sethi / Broker, President, REALTOR, MBA / SUNIL SETHI REAL ESTATE
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