Advice on Foreclosures

What do I need to know about shadow inventory when it comes to foreclosures?

In this case, shadow inventory refers to real estate properties that are in foreclosure and have not been released onto the market. What we are seeing are homes being released in batches. I don’t expect there to be a huge rush of homes at once.

In some cases there are homes that have been in default for 3-4 years. Some people are even paying rent to live in their property through housing programs.

Is there any advice you’d give to someone who is thinking of foreclosing?

Foreclosure should be your last option. If you or someone you know is thinking about foreclosing, call us immediately. There are several different options you can choose from and we can help guide you in the right direction.

Is there any advice you’d give someone who wants to purchase a foreclosed property?

It’s important the buyer does his/her due diligence; get the home inspected. Properties range in price and condition.

Hire a seasoned agent to help you in the process.

If you have any questions, please give me a call at 661.979.7388. Thanks for watching!

How Interest Rates Affect Our Market

Welcome to my video blog. I’ve had a few question about interest rates and thought you might have the same questions.

How is the recent rise in interest rates affecting the real estate market in you area?

I haven’t seen any dramatic changes. We still have a lot of demand for homes out there. Buyers also know that, despite the increase, rates are still phenomenal and historically low. I haven’t seen any buyers get out of the market because of the rise.

What would tell someone who is on the fence or waiting for interest rates to go back down?

It’s still a fantastic time to buy. We aren’t sure exactly what interest rates will do, but they shouldn’t be the only determining factor when deciding to buy a home. Home prices are also historically low and we expect those to increase.

If interest rates do go down, you can always consider refinancing.

If you have any questions about buying or selling or refinancing, please give me a call at 661.617.4434 I would love to help you with your real estate needs!

Thanks for watching!