I just like to share with you one of my sources of information regarding the market. This little video clip is from my broker, Jim Sexton, who is describing what is happening in the market. Despite talk of a “double dip” (of which I am skeptical), Jim points to a couple interesting points:
1) Foreclosure notices (banks telling people they are going to lose their house) are down 10% from August.
2) The number of active foreclosure notices is lower than its been since April of last year (about 39,000) county-wide.
3) About 71% of bank-owned properties are in MLS in one form or fashion. In other words, we may be on a path to start clearing the market.
Have a look at what Jim has to say and feel free to give me a call at 602-456-9388 if you have any questions.