Fewer Foreclosures on the Market | Banks are Holding Real Estate Learn to be a Cash Buyer
I talk to Realtor’s and Real Estate Investors everyday throughout the SF Bay Area. Many believe that there are more foreclosures being held by banks than there actually are right now. You might be surprised that the banks on a nationwide level are not holding as many foreclosed homes as originally thought. In many cases they area simply letting people live in these homes for free without paying a mortgage.
I personally know several families and individuals that have been living without foreclosure proceedings and without paying their mortgage for 6 months, one year and even up to two and half years in Pleasant Hill California, and all over the Bay Area. However there will be another major wave coming throughout the next two years. The next foreclosure wave is inevitable. The real question is are you going to capitalize as a cash buyer or are you going to be stuck like millions of other Americans that don’t fit into the banking mortgage box?
Banks have fewer foreclosed homes to sell than previously believed, but those holdings are likely to grow gradually over the next couple of years, a new study by Barclays Capital says.
The investment bank’s latest calculations support the view that the U.S. housing market is stabilizing but that a major recovery isn’t imminent and there are still risks of falling prices.
Barclays estimates banks and mortgage investors including Fannie Mae and Freddie Mac owned 480,000 homes at the end of February. Barclays has acquired more data on mortgages and refined its methods for analyzing foreclosure trends. Under the bank’s previous methods, the estimate for February would have been more than 600,000.
Barclays expects the inventory generally to rise over the next 20 months, peaking at 536,000 in January 2012, and then decline gradually.
Absolutely! If there is any truth to the Wall Street Journal there will be more millionaires made in real estate investing right here in the Contra Costa Bay Area than ever before in the next two years. If you would like to learn how to get started and learn how you can buy property without qualifying for a traditional mortgage let us know. We have aligned ourselves with a source that let’s us buy property without the mortgage hassle! You can come to an educational networking event or attend a webcast. Just let us know if you would like to attend an educational networking event to learn.
There are more sources than you might think to purchase property and fix it without using a traditional conventional mortgage or a government mortgage. If you would like to learn about these recourses just subscribe to our news letter on the top right of this page or Contact Us and ask about buying property without a mortgage and without your own money. We don’t look at your credit and we will qualify you as long as you can show you can afford the payments we’ve worked out. You can also pick up a great book to get started by Mike Watson on how to Buy Without the Bank to the right
If you are serious about buying a home and you area tired of trying to fit into the Mortgage Lenders teeny tiny box you need to learn about this program as soon as possible. You can register for an event or just give us a call. We would be happy to chat with you and pre qualify you for this unique program right here in Contra Costa County East Bay Area.
Until Next time Here is to your success! Jason Wheeler
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