Rockville Foreclosures
Interested in Rockville foreclosures?
We work with numerous local Rockville investors and have two Rockville realtors that specialize in Rockville
foreclosures.
Are Rockville foreclosures a bargain?
Yes!
However, these can be difficult properties to buy and the Rockville foreclosures that are 'good deals' go fast,
often with multiple offers.
I'd like to share some of the latest news about Rockville foreclosures with you.
I'm working on a way to provide you an informational "morning cup of coffee" that keeps you up-to-date on the
latest Rockville foreclosure and short sale news.
Let's start today.
Rockville Bank Repo Rates
Fall
In August, banks
repossessed 12.7% less Rockville homes than in July.
Simultaneously, default
rates remained high.
So while
borrowers are still having difficulty making their loan repayments,
banks are more hesitant than previously to repossess.
This gives
you more time to negotiate your next Rockville short sale.
Analysts have stated
that government pressure on lenders has been a key factor in slowing
the Rockville foreclosure rate as it encourages banks to work out
loan adjustments.
Additionally, local
Rockville banks have decided that it is in their best interests to
allow homeowners to maintain their properties.
And recent statistics
have shown that 30% of homeowners who were two months in
arrears were able to make their accounts current.
But that also
means that 70% were NOT.
That goes to show you
that short sales are not slowing down anytime soon.
And now
with the banks permission you are getting more than encough
time to negotiate for one.
EVEN WEALTHY
ROCKVILLE HOME OWNERS FILE FOR BANKRUPTCY
Wealthy individuals who
find themselves unable to repay their debts have a more complicated
time filing for bankruptcy than middle-class Americans.
Such situations have
risen 73% over a similar period last year, mainly due to declining
real-estate values which prevent wealthy individuals from
refinancing.
However, having a high
income prevents those individuals from filing for Chapter 7
bankruptcy; instead, they must file for the more complicated Chapter
11 bankruptcy.
This process can
end up costing four times the amount of a typical bankruptcy
filing.
You know what that
means for you?
That means you are
going to start seeing more higher priced homes going to
foreclosure.
ROCKVILLE HOME-BUILDER CONFIDENCE IMPROVES
The Home Builder
Sentiment Index, which measures overall market confidence in new
building projects, rose for the fourth straight month in
September.
Its current level is
still near an all-time low, but with the turn-around since last year,
home builders have reason to be optimistic.
Rockville single-family
home projects have risen for the past five months, while Rockville
condos has faltered.
However, experts
expect that the multi-family market has bottomed out and
investors should see an up-turn in the near future.
Local Rockville
investors are buying Rockville short sales like HOT
CAKES.
You should be
TOO!.
Email our Rockville Foreclosure Dept here:
foreclosures@rockvillehomes.org
877-855-7913
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