Foreclosure Myths
Posted by Rich Neste on
Starting in 2007, foreclosures and short sales rocked the real estate market across the country. The flooded our areas and seemed to drive our real estate prices down. Rumors began to spread that foreclosures would only increase year after year. Since 2007, we have seen many misconceptions come and go but a few myths still float around on a regular basis.
 1. There is going to be a flood of new foreclosures to the market.
This rumor has appeared every year since 2008 and has been routinely debunked. The idea was that the foreclosure cork was now out of the bottle. Soon to follow will be a flood of REO’s inundating the marketplace. Don’t hold your breath! We have seen the influx of foreclosures decrease our local prices but we are now seeing the market…
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