On Foreclosures, consider this:
If your state allows foreclosures without going to court, housing prices have probably bottomed. This means deeds of trust. If it's a judicial state -- mortgages -- it may not have bottomed.
The theory is simple. The more expensive it is for a lender to foreclose, the less likely he is to foreclose. He lets "squatters" -- owners who cease paying -- continue to squat. So, the shadow inventory is high. This keeps the market from clearing. For a chart on this discrepancy, go here: http://www.businessinsider.com/michelle-meyer-foreclosure-process-home-prices-2012-12.
For speed of transfer, Texas is best. Georgia is second. See this table: http://www.realtytrac.com/foreclosure-laws/foreclosure-laws-comparison.asp.
At least back in 2009, Texas was the place for jobs. Is it still? For more on this topic, see this.
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