Update on distressed property…

-22 million jobs lost

-Peak of Forbearance requests was March of 2020 when 8% of mortgages were in forbearance.

-Averaging more coming OUT of Forbearance than going IN.

-87% of Forbearances are successful

-400,000 new ones expected to default plus 250,000 already in system = 650,000 total.  During housing crash there were 2 million total.

Are you ready to join EXP REALTY? Choose Tim and Julie Harris as your sponsor! Text Tim directly 512-758-0206.

Will there be an REO surge?

-Not likely anytime soon.

Why?

-The market will easily absorb inventory, Fed Intervention, -equity.

What about Short Sales?

-Some short sales or a short sale like solution will arise but no time soon.

-FHA borrowers are the most behind, most likely to go into default but also most likely to get government intervention.

Also: regarding investors.

In 2019 there were 250,000 fix and flips

10 to 12% of all transactions are investor purchases, 13 to 15 billion in volume yearly.

Unlike the last time, the big opportunity won’t be in buying distressed opportunities.  The biggest opportunity will be helping people who have EQUITY but can’t pay their mortgage because they’ve yet to find replacement employment.

More facts:

According to NAR, 35 to 45% of agents own at least 1 rental property.

90% of investors are ‘Mom and Pop’ investors who own 1 to 10 rentals.

Get to know Tim and Julie Harris:
* Tim and Julie Harris are the 5 Star rated, award-winning authors of the best selling book, HARRIS RULES. Available everywhere including Barnes and Noble, Amazon. https://amzn.to/39E8O9Y
* Tim and Julie co-host the nations #1 daily real estate coaching podcast, Real Estate Coaching Radio. Itunes, Spotify, Amazon etc
* Motley Fool’s most influential real estate podcast.
* 20+ years in the real estate sales, coaching and training industry. Coaching real estate pros in 11 different countries.
* Sold over 100 homes first full year in real estate and 1000s of homes thereafter before becoming full-time real estate coaches.
* Often referred to as “The Nations #1 Real Estate Coaches”
* Featured on Inman, National Association of Realtors and, many other publications.
* Howard Brinton Stars.
* Founder of YEO Chapter.
* Real estate investor.
* Private equity fund manager.
* Aligned with EXP Realty. YES, we would love to sponsor you.
* Married for 30+ years, proud parents of Zoe.
Communicate with us:
Text: 512-758-0206

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