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August 24, 2009


Potential First Time Home Buyer

There are misperceptions about the housing market bottoming; thus it's not hard to see buyers who are looking for bargains and the pulled forward demand for the first-time buyer credit. Is there any statistics on the Notice of Default ?

There are less foreclosures now, but how can I find out about the pending foreclosures or the statistics of delinquent mortgage payers?

It's hard to believe that house prices can sustain any growth with this kind of unemployment, but I may be wrong. Any help would be greatly appreciated!!

Jeff Allen

The tax credit (as well as low rates, which won't last forever) is definitely spurring demand, as you allude to.

Foreclosures and defaults are rising, unfortunately but not surprisingly in this recession. For great data on that subject check out what the Minnesota Home Ownership Center is putting together: http://www.hocmn.org/en/reports.cfm.

Home prices have been under downward pressure for a very long time but have reached bottom we believe in the lowest price ranges, as well as for foreclosures. They're just not going to get any cheaper.

There's a blog post coming in about a half hour on that subject.

Potential First Time Home Buyer

Jeff, Thank you for pointing me to a website.
I just found a news article that kind of answer part of my curiosity: http://www.twincities.com/business/ci_13173164

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