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William Pattison 's Blog

Season Shift in Foreclosure Marlet
by William Pattison | 2015/01/15 |

   The winter months have me down and there seems to be nothing new under the sun that is worth blogging about, so I've been less-than-topical lately and want to get (somewhat) back on track here.

 

  Let us review the current investors market in residential mortgage foreclosures.

William Pattison 's Blog ::

   The average number of homes going to auction on any given day has declined.  We can expect our auctioneers to call oujt one property each day (again, on average during normal / non-holiday weeks) which have equity still in them.  A few others get called out for "reversion" (a bit of a misnomer) to the bank due to lack of bidders (no equity / underwater valuation).

   This situation is vastly different from a few years ago when the holiday season and New Year were ongoing rushes to foreclose during the worst of the housing crisis.  Indeed, just a few months ago during those balmy days of summer that I miss so dearly, the market was significantly busier for investors.  Crowds small and large would gather outside the courthouse anticipating the arrival of Mike and Les at 12:30 and 1:00 for a bidding war.  Now the steps contain only a few of the Forty Thieves and the occasional newbie checking out the rough waters.

 On the same note, when the mortgage and housing crisis was at its peak, few people were interested in my free investment seminars.  Now, however, a plethora of people are signing up and paying my fees as the days of free opportunities have passed.  Funny how things work.

  As a question to others:  What do you do to advertise your seminars and classes?

  I use MeetUp, Eventbrite, Open Exchange and our social media (FB, Twitter, LinkedIn, G+, Tumblr, etc..)




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William Pattison 's Blog

 

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