HAPPY HOLIDAYS!! Foreclosures are down 21% of the previous month and 14% below November of last year. This is great news but I think we will see another wave of foreclosures and short sales in 2011. It could be as early as January 2011. We probably will see another wave of distressed properties on the market in the coming year.
If you remember in 2008-2009, the market was flooded with the first wave of distress properties for sale. There are still a lot of people having problems with their loan payments and the banks will have to follow through with their right to foreclose to recuperate the losses.