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Predicted Foreclosure Tsunami Still At Large

The new wave of foreclosures, termed yet again as a “foreclosure tsunami”, and predicted by many major analysts for the past 6 months or so still has not arrived in the overall real estate market.

The WSJ cited data released by LPS Applied Analytics and CoreLogic, which shows that the waters are still relatively calm.

Home repossessions nationwide are at about the same levels of last year, and still below the peak set in 2010.

In many markets, the turn-around time of bank repossessions coming back to market and sale as REO inventory is surprisingly short, sometimes as little as four to eight weeks go by between the foreclosure auction and re-listing.

Overall, the scare and scarcity tactics of the media seem to benefit active buyers at this point.

What are you observing in your own market? Leave a comment below!


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Category: trustee sale

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