A wave of Fresno foreclosures coming?
If you are in the market to buy a new home in Fresno or Clovis, then you are already aware that a lot of the inventory out there to choose from right now are REO / bank-owned / foreclosures.
GET USED TO IT
Here’s why:
“We start 2010 with some early signs of stabilization in the housing market, with house prices and home sales likely nearing the bottom sometime in 2010.
We expect that low mortgage rates, relatively high affordability and the homebuyer tax credit will help continue to fuel the recovery.
Still, the housing recovery remains fragile, with significant downside risk posed by high unemployment and a potential large wave of foreclosures.”
Freddie Mac Chief Executive Officer Charles E. Haldeman, Jr.
Yep.
Straight from Freddie Mac’s CEO.
THE GOOD NEWS?
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