September 28th, 2010 Phyllis Wolborsky Posted

I feel that foreclosures are subsiding a bit. The incredible increase in foreclosure activity that hit the United States hard over the past couple of years was a huge catalyst for falling home prices, as well as a staggering hit to the real estate market as a whole. The decrease in foreclosures for the end of 2009 that has been reported is good news for all. As foreclosures disappear real estate values will be less affected. Please call me, Phyllis Wolborsky and The Wolborsky if you are in the market to buy or sale. Also please visit my website at www.PhyllisDidItAgain.com to see my latest listings and to request a Market Report of the subdvision you currently live in or one you might have interest in. 

The Mortgage Bankers Association reported on Friday there was a decrease in foreclosure applications for the last quarter of 2009. This was particularly good news considering the fourth quarter typically sees a rise in foreclosures due to heating costs, according to the MBA. If you need a mortgage banker or just want some information on the mortgage market, rates, etc. Please call Laura Sutton with Allen Tate Mortgage at 919-645-4290 or visit her website at www.tatemortgage.com/lsutton . Don’t forget to ask Laura about The Best Rate Guarantee Program offered byAllen Tate Mortage Services.  

While foreclosures will still be coming the decrease appears to make the problem improving or, at the very least, not getting worse. The nation’s employment numbers need to improve before we are out of the woods but slowly and steadily we are climbing out of the recession and real estate is taking baby steps toward a solid recovery.

Click here to read the full report from the MBA.