WARNING: Don’t watch this video (or read this blog for that matter) if you only want to hear “rosey…housing has hit bottom”…type news.

Harris Real Estate University believes in preparing students for the worst…yet, hoping for the best.

So, here it is….simply staggering housing data released today:

1) 14.4% of ALL mortgages delinquent (or already in foreclosure) in the US. Read that again and ponder how significant that really is…14.4% of ALL homeowners with a mortgage are behind or already IN foreclosure. That is a historic record.

2) Ready for this….PRIME borrowers…as in NOT SUB-PRIME….borrowers are now the leading edge of this epic housing mess. 33% of all delinquencies (and those already in foreclosure) are PRIME.

Agents: If you are ready to become a REO listing agent…KNOW THIS…its not too late for you. Listen to this 90 minute How-To List REOs Teleconference (or webinar). You are about to learn exactly what you must do now to become a REO listing agent. Listen to replay NOW.

3) Next fun fact: 144% INCREASE in FHA delinquencies year over year. Anyone want to place any bets on the long term viability of the FHA in its current incarnation? Anyone?

4) Saved the most staggering stat for last…get ready…The total number of delinquent (and in foreclosure) homeowner/ borrowers is GREATER than the total number of homes for sale. Lets put this into perspective: There are currently around 4,000,000 homes for sale in the country. Thus, there are MORE THAN 4,000,000 homes delinquent or already in foreclosure. Rounding this out a bit, many studies have estimated the total number of homes in the US that are foreclosure bound (if the homeowner doesn’t wise up and sell the home via a short sale) is 13,000,000 to 15,000,000.

Agents, HREU students…is there ANY doubt in your minds that you simply MUST be listing and selling short sales and learning how to become a REO listing agent. In most markets across the country short sales and REOs ARE the market.

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