Prepare for the Foreclosures
More foreclosures are in store for the U.S.
RealtyTrac says the U.S. is still on pace to see more than 3 million households receive some sort of foreclosure notice this year.
Spokesman Rick Sharga says unemployment remains stubbornly high and there’s likely to be one new foreclosure action for every 6 to 10 jobs that are lost.
That said, realtor Carol Greco of Long & Foster Realtors in the greater Washington area, says there are some tremendous opportunities out there for prospective home buyers.
She also foresees little movement in home values in either direction.
This would set yet another record from last year’s all-time high of 2.8 million foreclosures.