Tuesday, January 11, 2011

What is trending in Real Estate Now? Foreclosures, Loan modifications, short sales

Foreclosures for sale, loan modifications a bust? More houses go to market and wait in hopes of a buyer….

The roller coaster ride of 2011 is already starting and we haven’t even ended the first month of the New Year!

In recent news from Massachusetts, granting two homeowners their houses back to them after US Bancorp and Wells Fargo foreclosed on them in 2007. The year certainly has already started off with a bang! Question in everyone’s mind is, when will it get better? Let’s take a look at how wide spread the foreclosure problems are.

In states where there was little foreclosure news, we are now seeing pockets of increased activity as more Americans are feeling the struggling economy and housing debacle. Rising requests and searches on Google for homes listed as for sale asforeclosed property, to Fannie Mae owned property, Zillow foreclosures, Freddie Mac foreclosures, bank foreclosures and many other search inquires begin to show up in areas of the country you wouldn’t think has been affected yet by the foreclosure crisis.

Top 10 States with the highest Google searches for more information about the government’s program Home Affordable or HAMP program for short is reaching as far north now as New Hampshire, District of Columbia to Maryland and Massachusetts.

This is no longer a problem for just states like Florida, Nevada and California; it has now reached pretty much every state. Between lower incomes, decreasing value of homes, people are wondering what else could possibly cause the market to fall even further. The problem will continue if the job market doesn’t start improving.

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