The next foreclosure wave is already brewing. Over the past few years, monetary moves and rash home buying decisions were made that could cause even more foreclosures to hit the market. The question is, which markets will face the most foreclosures, and how low will prices go? But that’s not all; foreclosure competition has started to spike as a new type of buyer enters the market for these deeply discounted properties.
And if you want to know about foreclosures, discounted properties, and data on the markets with the biggest price cuts, Daren Blomquist from Auction.com is your man. As VP of Market Economics, Daren knows where the foreclosure market is moving before the masses do. In this episode, he gives his take on the next “wave” of foreclosures that could be headed our way, when it will hit, and the investing areas already feeling the effects.
Daren also talks about the unexpected buyers entering the foreclosure market and how they could put investors at the back of the line for discounted deals. And if you’re in this specific state, prepare for your properties to be placed at open auction, as investors are forced to wait to acquire the foreclosure properties they rightfully won. Make no mistake; there are MANY deals out there for investors, but competition could start to heat up fast!
In This Episode We Cover
The “seeds of a bigger foreclosure wave” that are about to sprout
Buyers bounce back and why the housing market and home prices have been so resilient
A rise in foreclosures and what’s causing a steady uptick in homeowners forfeiting their houses
New foreclosure laws that could make it even harder for investors to buy discounted properties
Markets facing the deepest foreclosure price cuts
Recession predictions and whether or not this will force even more foreclosures
And So Much More!
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Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-118
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