Last week we talked about the declining home sales in America. They fell 30% from May to June. Those videos were filmed on Monday, July 5th and since that point in time there have been tons of articles supporting what we are saying.
First of all, if you took our videos last week to think that you should run and hide from this state of affairs, you are totally wrong. We disclose this information with you so that you can stand facing this market head on. We’re merely trying to be realists and move our strategy as the market changes.
One piece of writing remarks that the US economy appears to be in discontent as the effects of government stimulus are already wearing off. Also worth noting is that a double dip recession is very doubtful due to historical precedents. Nevertheless, Kevin wonders aloud how we can engage in a double dip recession if our market never improved. The financial system has constantly been bad. Also mentioned in other writings was the national mortgage deliquency rate. It grew to 9.2% in May, up 2.3% from a month previous and up 7.9% from a year before. This makes you speculate how mortage deliquencies are going up, but there was a rise in our economy.
When we look at writings like this, recognize that there is an opening to help citizens out. Don’t run and be fearful. There will always be purchasers and there will at all times be sellers. People have to have a space to live in. Every home is marketable at the appropriate price.
It is important to note that the non-current mortages are really at a 12.4%. That is awful, because the historical average is close to 1%. One other impressive statistic to note is that the average quantity of days elapsing between when a mortgage becomes 30 days deliquent to foreclosure sale reached a record high of 449 days. So, from the moment that a house owner is a month late in payments, they are not losing their house for 14 months on average.
We will also be teaching a Short Sale Crush It session that continues to get better. Preregister for that August 13th lecture at shortsalepowerhour.com
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