- Category: Market Updates Market Updates
- Published: 18 October 2008 18 October 2008
- Hits: 19256 19256
Idaho Short Sales and Foreclosures
Adjustable Rate Mortgages (ARM) loans will continue adjusting through 2010. 5/1 ARM loans made in 2005 will have their final reset in 2010. These resets will certainly cause more homeowners to face a Short Sale or Foreclosure unless something drastic happens in the financial markets and in our economy. This could increase the inventory of Idaho Short Sales dramatically!
An article written by "Market Watch" states that in the coming months and years, the credit crunch that's now squeezing mainly the poor is likely to hit millions of middle-class homeowners who took out risky loans during the great housing boom early in the decade. Even though they look at a national market, Idaho Short Sales are here to stay for a while.
The article goes on to state that more than 1 million families will loose their homes in the next few years by one estimate and another study predicts 2.2 million foreclosures will hit our market in the months and years to come. Read The True affect of ARM Loans on the Housing Market.
Foreclosure recordings are increasing in numbers weekly and have been doing this for most of this year. All this supports what Market Watch is reporting.
I encourage anyone that is uncertain about their loan or feels uncertain about their ability to make their future payments to not wait to take action. I assist homeowners that are struggling with their home loans. I have learned how to expedite Idaho Short Sales to give you the best chance of executing a successful Short Sales in Boise and in the Treasure Valley. I would love to meet with you and explain the details of the Idaho Short Sales Process. I am now a Certified Short Sale & Foreclosure Resource with the National Assoc. of Realtors.
If you are searching for homes in Nampa, homes in Caldwell or homes in Meridian or Boise, NOW is the best time I've seen for good buys in many years! There are over 900 homes in the Intermountain MLS of Idaho that are identified as Idaho Short Sales and the number of foreclosures are growing. Contact me at the phone number or email below or begin your own search at Idaho Real Estate Search