CoreLogic recently released a report entitled, United States Residential Foreclosure Crisis: 10 Years Later, in which they examined the years leading up to the crisis all the way through to present day.
With a peak in 2010 when nearly 1.2 million homes were foreclosed on, over 7.7 million families lost their homes throughout the entire foreclosure crisis.
Dr. Frank Nothaft, Chief Economist for CoreLogic, had this to say,
“The country experienced a wild ride in the mortgage market between 2008 and 2012, with the foreclosure peak occurring in 2010. As we look back over 10 years of the foreclosure crisis, we cannot ignore the connection between jobs and homeownership. A healthy economy is driven by jobs coupled with consumer confidence that usually leads to homeownership.”
Since the peak, foreclosures have been steadily on the decline by nearly 100,000 per year all the way through the end of 2016, as seen in the chart below.
If this trend continues, the country will be back to 2005 levels by the end of 2017.
As the economy continues to improve, and employment numbers increase, the number of completed foreclosures should continue to decrease.
source: Real Estate with Keith Kreis
5 Reasons To Be Thankful For A Great Real Estate Agent
Real estate agents differ across the board significantly. There are many amazing pros of using real estate agents, but once in a while things can go wrong and as a result spoils everything for all parties involved. In case you have had bad experiences with a real estate agent in the past, you should not allow such a thing to deter you from utilizing an agent all together. If you feel uncomfortable with your current agent then it is advisable to stop everything and look for a new, experienced and proven real estate agent. Ensure you have a good agent before proceeding with the transaction process because a good real estate agent will give you high-quality service and save you meaningless headaches. Below are 5 reasons to be thankful for a great real estate agent. Steps to Buying a Home
- You’re Best Interests Are Protected Steps to Buying a Home
- Always Have Access To Quality Advice Steps to Buying a Home
- They Can Accommodate Your Busy Life
- Helpful Long After Closing
- You Have Access To A Professional Network
A great real estate agent always has your interests, need and wants kept close to their heart, and uncovers opportunities to either find your preferred house or buyer. If you’ve already encountered your dream agent, you have a lot to be grateful for but if you haven’t then take the time to identify the right one and get him or her in your team. Agents sell houses but at the end of the they exist to help make your life easier. Steps to Buying a Home
Keeping Your Home Buying Wish List On Track
Although experts in the real estate industry continually suggest the importance of seeing a lender before doing anything else with regards to purchasing a home, many buyers don’t. Instead, they merrily attend open houses, mine Internet real estate databases and hound real estate agents to show them homes that they may not even qualify to purchase. Steps to Buying a Home
We want to help you be a smart homebuyer, so we’ve developed a checklist to help you keep your home buying wish list realistic. Steps to Buying a Home
To avoid creating a fantasy wish list you absolutely must know how much money you can spend on a house. Only a lender can help you determine this figure. Once you know what you can spend, we can help you determine where you can afford to live. From there, you can build a realistic wish list. Steps to Buying a Home