Is another Foreclosure Market coming in 2015?

    Are foreclosures going to make a comeback in 2015Maybe not one of those “spine tingling” foreclosure markets that we observed after the Bubble Popped back in late 2006 and early 2007, but maybe another Short Sale Market.

    Back in 2005 – 10 years ago – from 2015, there we loans written with Balloon Notes that were due at 10 years.

    This could be what will be enforced in 2015, with those Balloon Notes coming due, some won’t have the equity to refinance and will have to make use of other options.

    Not all of those in 2015 will be using the Short Sale as their savior. Some will allow their homes to go to foreclosure. They will be hoping that the Cash for Keys will be enough to place them into a rental.

    Some will just Foreclose and move along. Some will be beside themselves and hire those they hear about on the radio that will “modify” their loans. Or say they will 🙂

    The bottom line is this. We don’t know the numbers, but do know these balloon note mortgages were very popular back in 2005.

    Makes sure you are getting good advice and before you pay for anything, upfront, get what they are offering/guaranteeing in writing.

    These basic rules of business methods will keep you safe.

    An Example I get several times a week:

    I received a call from someone that pitched they were sponsored by Google and they would be able to keep me on Page 1 for the specific keyword search of Valencia California real estate.

    He said there were 325 people a month that were searching for that exact phrase.

    He wanted $49.95 down and $129.00 a month, without a contract.

    He said I could cancel at any time and that I would not because I would be at the top of page one for every single search inquiry for that exact key phrase.

    I told him to email me that guarantee and he’d have a deal. He said that his company does not do email.

    This is an example of what you need to watch out for and let me know if we can be of assistance, now or in 2015!

    Paris and Connor MacIvor

    Connor and Paris MacIvor are in the Top 1% of Realtors Nationwide, starting their real estate business in 1998 with RE/MAX Gateway - Santa Clarita Valley and Valencia CA. Their becoming licensed real estate consultants and representatives came from the horrible experience they had when they bought their first home. There were many things that the agent they had hired did not explain and disclose, which per law he should have. Getting that agent on the phone after they closed escrow and after he had gotten paid was impossible. Paris and Connor called the broker, the board of realtors, the office manager and all they received was the promise of a phone call back. The remedy did come, but not as fast and in the way they wanted. That act - that bad agent was the reason why Paris and Connor became Realtors. That was all they needed to vow to never let the same fate befall anyone else, that befell them. Today Connor and Paris are focused on client service. Protection and top-shelf service with regard to their real estate clientele. They primarily work within the Santa Clarita Valley and Valencia CA. However, for a referral, where 80+ of their business is referrals they have License and Will Travel to other parts of Ventura County, Los Angeles County, and Orange County to handle real estate transactions for those who trust their real estate operation. Writing on their Real Estate Blog is a passion. SCVnest.com/blog is where you will find over 10,000 real estate articles. Go to SCVnest.com/radio to listen to their latest real estate radio broadcast.
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