Nick Miller

When will the market recover? I guess that depends on who you talk too, but in my opinion, not soon enough. I found this interesting article on cnbc at http://www.cnbc.com/id/45507581. It states that "the average loan in foreclosure has now been delinquent a record 631 days." That is a long time for a loan to be delinquent.

This article also states that foreclosures are at an all time high at 4.29 percent of all active homes and that new foreclosures are outnumbering foreclosure sales 3:1.

So what does this mean? It means that foreclosures will continue to flood the market for years to come. There is a large shadow inventory building, and, as more delinquent borrowers are allowed to stay in their homes for extended periods of times, other borrowers who are fighting to keep up with the mortgage may decide to take their chances with foreclosure and live in their homes rent free for 2 years or more.

But that news isn't all bad. It could mean great buying opportunities for home buyers and investors. It is also a good time to learn to sell foreclosures as a real estate agent, which I can help with as I have written a course on REO Agent Fundamentals. If your interested in the material, let me know.

www.nickmiller.biz

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With the future of the economy still uncertain, and mortgage default notices being filed at breakneck speed, is there any reason to be optimistic about the real estate market today?

I guess that would all depend on who you are. For investors who can get their hands on some cash, this is a great market to be in. As the pendulum of supply and demand continues to swing higher and higher on the supply side, prices will continue to fall, which equals a great buying opportunity.

And not only that, but as more and more people are being displaced from their homes, the demand for rental property increases. Of course you, as the investor/landlord, will have to relax your rental qualifications some as many will have a foreclosure or default on their credit report.

Overall, it is still an unfortunate situation we find ourselves in. But for those who are able to take advantage of the situation, yet do not, only adds to the level of misfortune. The only way to turn this thing around, and for homes to start appreciating again, is to reduce the supply of inventory.

Interesting article: http://www.eforeclosuremagazine.com/foreclosure/more-foreclosures-on-the-way-with-more-default-notices-filed

Check me out at www.nickmiller.biz