Homeowners, are you tired of short sales and foreclosures in your neighborhood and their affect on your home and your ability to sell? Unfortunately, this downward spiral is expected to only get worse in the next year or two.
According to The New York Times, the first wave of Americans to default on their home mortgages appears to be cresting, but a second, far larger one is quickly building.
The neighborhoods in east metro Orlando that are most affected by short sales and foreclosures are the communities that were built in 2005/2006. This period was the peak of the Orlando metro real estate boom where we experienced limited homes for sale and quick, easy financing. These neighborhoods are where you will find the greatest number of short sales and foreclosures today. Their levels have reached epidemic proportions and presently show no end in sight for frustrated homeowners.
1 comment:
The distress of home owners is obvious as the rate of foreclosures increase and also short sales.
Some regions show healthy progress in the real estate business and the doom will not stay for long. As example, UK the world 5th largest economy having charms and job opportunities for immigrants, have not effected badly form property doom. And such opportunities can be created in the local communities.
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