Investor’s Confidence Growing

Inventory is down and bidding wars are increasing on the hot properties. I am putting in twice as many offers to get the same amount of properties as last year. Investors including myself are finding it a lot easier to move properties than the last few years. This is creating a buzz that is getting investors excited again. Just in the past couple of months I have received calls from several of my buyers that have taken the last couple of years off. New investors are calling everyday from all over the world. Today’s market is exciting to say the least.

I still receive negative emails from negative people about the next wave of foreclosures. I have been hearing this for the last couple of years and inventory continues to shrink. I feel this is a result of the banks working with homeowners to keep them in their homes. Loan modification is one way banks and homeowners have found common ground to help slow down the foreclosure process. This fear of the next big wave of foreclosures is based on the amount of newly filed Lis Pendens and the ability of homeowners to withstand their adjustable mortgages. A portion of these pre foreclosures get resolved, therefore, the foreclosure predictions are less then predicted. There are new foreclosures coming as there always will be. The big difference now is we have confident buyers and declining inventory. A few years ago we had a long way to go before hitting bottom. Today we have homes selling for the land value. It simply can’t go any lower!