Search The Site

Foreclosurer Activity Hits Record High

publication date: Apr 22, 2009
 | 
author/source: Chris Prang
Download Print Send a summary of this page to someone via email.
Previous | Next
 
Well here we go again, another report from RealtyTrac about foreclosures. What does this mean to you?

This report is no surprise to me and it shouldn't be to you. But why does it matter and what does it mean to you?

It matters for a number of reasons:
  1. Rising foreclosures should equal lower/falling home prices...especially in the markets hardest hit. So if you are thinking of buying, you should be waiting...unless you buy at 25-50% below FMV (Fair Market Value). If you are thinking of moving in another year or two and need to sell your home, then you might want to pray about selling it now.
  2. Rising foreclosures mean more vacant homes. More vacant homes can lead to deteriorating neighborhoods, which can lead to crime and falling prices in neighborhoods.
What does it mean to you?
  1. Well it may mean nothing if you own a home and plan on keeping the home whether for personal use or as an investment property for at least another 10 years. Your only hope for a rapid increase in home prices back to where they were in 2006 is for significan inflation to kick in and that will not be a good thing, even if you can sell your home for more.
  2. It may mean with falling prices you have a better opportunity for buying a home...FOR CASH! Which is the only way you should buy it.

0 Comments Posted Leave a comment

 

Add a comment:

Sign in to comment on this entry. (Required)


Bookmark and Share

 Christian Economics, Christian Finances, Christian Money, Christian Wealth, Christian Mortgage, Christian Mortgage Advice, Christian Mortgage Counsel, Christian Mortgage Consulting, Christian Investing, Biblical Economics, Biblical Finances, Biblical Money, Biblical Wealth, Biblical Mortgage, Biblical Mortgage Advice, Biblical Mortgage Counsel, Biblical Mortgage Consulting, Biblical Investing, Creating Wealth, Mortgages For Christians
Take The Survey
Upcoming Events
« 
May 2012
 »
SMTWTFS
 12345
6789101112
13141516171819
20212223242526
2728293031 
The Mortgage Truth
Kill Your Mortgage
Buy Gold & Silver
Christian Economics 301
Recommended Books
Samaritan Ministries
Franklin Springs
Vision Forum
American Vision
American Vision