Forclosure Freeze

With foreclosures unable to be filed starting in Dec 2011, inventory should continue to decrease in January 2012. The new available listings should be easily absorbed by the market. I expect pending and contingent sales (sales in escrow) to continue to increase in comparison to the available listings on the market. This has been the trend for over 6 months and the forclosure freeze should only help it continue.

  • January 19 2012 - MacDonald Ranch
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Answers (5)

Where, your area or ?
  • January 19 2012
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We are a full service real estate brokerage in Las Vegas/Henderson, NV
  • January 19 2012
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Profile picture for the_country_hick
It will not be a complete stop. It will only be a temporary delay that will eventually end.
  • January 20 2012
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Profile picture for Jesse Storm
For your area not for the entire 50 states.
  • January 20 2012
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I think you are referencing AB284?  That went into affect October 1, 2011.  That has enormously cut down the number of new Notice of Defaults and subsequently Notice of Trustee Sales.  We will have a temporary increase in values, with another drop bringing us back to where we are once the banks get their systems in place to work around this. 

Also keep in mind that there are tens of thousands of properties looming that received NOD's prior to this bill so there is still plenty of inventory to be foreclosed on.
  • January 20 2012
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