Why You Shouldn’t Fear Today’s Foreclosure Headlines

Written by Delray Beach Mortgage Syndicated User on January 26, 2023. Posted in Delray Beach Condo Financing, Delray Beach Mortgage, For Buyers, For Sellers, Foreclosures, Housing Market Updates.

If you’ve seen recent headlines about foreclosures surging in the housing market, you’re certainly not alone. There’s no doubt, the stories in the media can be pretty confusing right now. They may even make you think twice about buying a home for fear that prices could crash. The reality is, the data shows a foreclosure crisis is not where the market is headed, and understanding what that really means is mission critical if you want to know the truth about what’s happening today. Here’s a deeper look.According to the Year-End 2022 U.S. Foreclosure Market Report from ATTOM, foreclosure filings...

Today’s Housing Market Is Nothing Like 15 Years Ago

Written by Delray Beach Mortgage Syndicated User on January 12, 2023. Posted in Delray Beach Condo Financing, Delray Beach Mortgage, For Buyers, For Sellers, Foreclosures, Housing Market Updates.

There’s no doubt today’s housing market is very different than the frenzied one from the past couple of years. In the second half of 2022, there was a dramatic shift in real estate, and it caused many people to make comparisons to the 2008 housing crisis. While there may be a few similarities, when looking at key variables now compared to the last housing cycle, there are significant differences.

Why There Won’t Be a Flood of Foreclosures Coming to the Housing Market

Written by Delray Beach Mortgage Syndicated User on December 1, 2022. Posted in Delray Beach Condo Financing, Delray Beach Mortgage, Distressed Properties, For Buyers, For Sellers, Foreclosures.

With the rapid shift that’s happened in the housing market this year, some people are raising concerns that we’re destined for a repeat of the crash we saw in 2008. But in truth, there are many key differences between what’s happening today and the bubble in the early 2000s. One of the reasons this isn’t like the last time is the number of foreclosures in the market is much lower now. Here’s a look at why there won’t be a wave of foreclosures flooding the market. Not as Many Homeowners Are in Trouble This Time After the last housing crash, over nine million households lost their homes due to...

Home Equity: A Source of Strength for Homeowners Today

Written by Delray Beach Mortgage Syndicated User on November 15, 2022. Posted in Delray Beach Condo Financing, Delray Beach Mortgage, For Sellers, Foreclosures, Housing Market Updates.

Experts agree there’s no chance of a large-scale foreclosure crisis like we saw back in 2008, and that’s good news for the housing market. As Mark Fleming, Chief Economist at First American, says: “. . . don’t expect a housing bust like the mid-2000s, as lending standards in this housing cycle have been much tighter and homeowners have historically high levels of home equity, so there likely won’t be a surge in foreclosures.” Data from the Mortgage Bankers Association (MBA) helps tell this story. It shows the overall percentage of homeowners at risk is decreasing significantly with time (see...

3 Graphs Showing Why Today’s Housing Market Isn’t Like 2008

Written by Delray Beach Mortgage Syndicated User on October 27, 2022. Posted in Delray Beach Condo Financing, Delray Beach Mortgage, For Buyers, For Sellers, Foreclosures, Housing Market Updates, Pricing.

With all the headlines and talk in the media about the shift in the housing market, you might be thinking this is a housing bubble. It’s only natural for those thoughts to creep in that make you think it could be a repeat of what took place in 2008. But the good news is, there’s concrete data to show why this is nothing like the last time. There’s Still a Shortage of Homes on the Market Today, Not a Surplus For historical context, there were too many homes for sale during the housing crisis (many of which were short sales and foreclosures), and that caused prices to fall dramatically. Supply...

Why the Forbearance Program Changed the Housing Market

Written by Delray Beach Mortgage Syndicated User on August 9, 2022. Posted in Delray Beach Condo Financing, Delray Beach Mortgage, Distressed Properties, Foreclosures, Housing Market Updates.

When the pandemic hit in 2020, many experts thought the housing market would crash. They feared job loss and economic uncertainty would lead to a wave of foreclosures similar to when the housing bubble burst over a decade ago. Thankfully, the forbearance program changed that. It provided much-needed relief for homeowners so a foreclosure crisis wouldn’t happen again. Here’s why forbearance worked. Forbearance enabled nearly five million homeowners to get back on their feet in a time when having the security and protection of a home was more important than ever. Those in need were able to work...

3 Graphs To Show This Isn’t a Housing Bubble

Written by Delray Beach Mortgage Syndicated User on August 3, 2022. Posted in Delray Beach Condo Financing, Delray Beach Mortgage, For Buyers, For Sellers, Foreclosures, Housing Market Updates.

With all the headlines and buzz in the media, some consumers believe the market is in a housing bubble. As the housing market shifts, you may be wondering what’ll happen next. It’s only natural for concerns to creep in that it could be a repeat of what took place in 2008. The good news is, there’s concrete data to show why this is nothing like the last time. There’s a Shortage of Homes on the Market Today, Not a Surplus The supply of inventory needed to sustain a normal real estate market is approximately six months. Anything more than that is an overabundance and will causes prices to depreciate....

What You Actually Need To Know About the Number of Foreclosures in Today’s Housing Market

Written by Delray Beach Mortgage Syndicated User on May 13, 2022. Posted in Delray Beach Condo Financing, Delray Beach Mortgage, Distressed Properties, Foreclosures, Housing Market Updates.

While you may have seen recent stories about the volume of foreclosures today, context is important. During the pandemic, many homeowners were able to pause their mortgage payments using the forbearance program. The goal was to help homeowners financially during the uncertainty created by the health crisis. When the forbearance program began, many experts were concerned it would result in a wave of foreclosures coming to the market, as there was after the housing crash in 2008. Here’s a look at why the number of foreclosures we’re seeing today is nothing like the last time. 1. There Are Fewer...

Why This Housing Market Is Not a Bubble Ready To Pop

Written by Delray Beach Mortgage Syndicated User on April 22, 2022. Posted in Delray Beach Condo Financing, Delray Beach Mortgage, For Buyers, For Sellers, Foreclosures, Housing Market Updates, Pricing.

Homeownership has become a major element in achieving the American Dream. A recent report from the National Association of Realtors (NAR) finds that over 86% of buyers agree homeownership is still the American Dream. Prior to the 1950s, less than half of the country owned their own home. However, after World War II, many returning veterans used the benefits afforded by the GI Bill to purchase a home. Since then, the percentage of homeowners throughout the country has increased to the current rate of 65.5%. That strong desire for homeownership has kept home values appreciating ever since. The...

Category: Foreclosures