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Real Estate Market Recovery Dependent on Foreclosure Pipeline


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Foreclosures could kill the real estate market recovery

 

With reports of rental property investing on the rise, coupled with positive reports coming in from the home remodeling industry, the real estate market seems to be headed for an unhurried but promising recovery. Nevertheless, market experts warn not to simply count on this revival but to take the necessary steps to help it along to completion.


Experts believe that the recovery in the housing market will be highly localized and heavily dependent on how each state deals with its foreclosure situation. There are already examples of states that are seeing an average turnaround of 800 days on their foreclosure processing, while more agile states “breeze” through the process in under 200 days.


They predict that any slowdown in the handling of delinquent properties could well lead to a build up in the pipeline that could halt any potential market revival in its tracks. While states may be trying to carry out due diligence in having a judicial review before a foreclosure is signed off on, the plethora of delinquent properties and their continued influence on property prices could cause untold damage by holding up the much needed market resurgence.

Want more info? For an interesting article from Kiplinger on the impact of the foreclosure situation relative to the market recovery, click here.



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