A recent article in the LA Times explains that according the RealtyTrac foreclosure filings fell 14% in January. So what does this mean? Well, it really only mean that the banking industry needed to re-group after the robo-signing revelations. So, in fact it there are still foreclosures who had received Notice of Defaults prior to the bank bruhaha that are just waiting to keep moving through the process and then there are those recently went into default.
As Realtors, we believe the banks are inundated. We are able to see how many properties are in pre-forclosure and there are a lot. Particularly in the condo sector – that’s where the deals will be. Want to start acquiring income property, condos are the place to begin.
So, if you’re interested in finding out more about foreclosures, we can send you the listings in the neighborhoods you’re interested in. Just sign up here!