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Category: Foreclosures

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Home Equity: A Source of Strength for Homeowners Today

Written by St. Petersburg Mortgage Syndicated User on . Posted in For Sellers, Foreclosures, Housing Market Updates, Mortgage St. Petersburg, St. Petersburg, St. Petersburg Mortgage.

Experts agree there’s no chance of a large-scale foreclosure crisis like we saw back in 2008, and that’s good news for the housing market. As Mark Fleming, Chief Economist at First American, says: “. . . don’t expect a housing bust like the mid-2000s, as lending standards in this housing cycle have been much tighter and homeowners have historically high levels of home equity, so there likely won’t be a surge in foreclosures.” Data from the Mortgage Bankers Association (MBA) helps tell this story. It shows the overall percentage of homeowners at risk is decreasing significantly with time (see...

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3 Graphs Showing Why Today’s Housing Market Isn’t Like 2008

Written by St. Petersburg Mortgage Syndicated User on . Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Mortgage St. Petersburg, Pricing, St. Petersburg, St. Petersburg Mortgage.

With all the headlines and talk in the media about the shift in the housing market, you might be thinking this is a housing bubble. It’s only natural for those thoughts to creep in that make you think it could be a repeat of what took place in 2008. But the good news is, there’s concrete data to show why this is nothing like the last time. There’s Still a Shortage of Homes on the Market Today, Not a Surplus For historical context, there were too many homes for sale during the housing crisis (many of which were short sales and foreclosures), and that caused prices to fall dramatically. Supply...

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Why the Forbearance Program Changed the Housing Market

Written by St. Petersburg Mortgage Syndicated User on . Posted in Distressed Properties, Foreclosures, Housing Market Updates, Mortgage St. Petersburg, St. Petersburg, St. Petersburg Mortgage.

When the pandemic hit in 2020, many experts thought the housing market would crash. They feared job loss and economic uncertainty would lead to a wave of foreclosures similar to when the housing bubble burst over a decade ago. Thankfully, the forbearance program changed that. It provided much-needed relief for homeowners so a foreclosure crisis wouldn’t happen again. Here’s why forbearance worked. Forbearance enabled nearly five million homeowners to get back on their feet in a time when having the security and protection of a home was more important than ever. Those in need were able to work...

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3 Graphs To Show This Isn’t a Housing Bubble

Written by St. Petersburg Mortgage Syndicated User on . Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Mortgage St. Petersburg, St. Petersburg, St. Petersburg Mortgage.

With all the headlines and buzz in the media, some consumers believe the market is in a housing bubble. As the housing market shifts, you may be wondering what’ll happen next. It’s only natural for concerns to creep in that it could be a repeat of what took place in 2008. The good news is, there’s concrete data to show why this is nothing like the last time. There’s a Shortage of Homes on the Market Today, Not a Surplus The supply of inventory needed to sustain a normal real estate market is approximately six months. Anything more than that is an overabundance and will causes prices to depreciate....

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