If You Are NOT In Escrow By The End Of September, You Won't Close Any More By Year's End!

Years ago - probably about 29 Years Ago -- the 1st Broker I ever worked for said this.

At that time, he had been a Real Estate Broker for 34 years.  So, I took him at his word.  And, he has been correct ever since. Well, he passed away in 1993, the year I upgraded my license to Broker from Salesperson.

And, ever since those long gone days, a lot of what he advised has proven true.

And, since it is late September, "and I really should be back in school," (Thank You Rod Stewart!), it is getting very, very close to NOT closing another Escrow in 2020.

But, given everything that has happened this year, I still had a pretty good year real estate wise.

Yet, I do believe deep down, we are heading in the wrong direction and the economy is going to take a tremendous hit.

I guess the only thing to do is hunker down, brace yourself and ride out the storm as best you can.

AND, there will be another bunch of homes available post foreclosure in the next 12 months.

So, be prepared -- as the Boy Scout Slogan states!

To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!

Frozen Foreclosures are happenning!

Even though I do NOT list or sell Single family homes as a Commercial Real Estate Broker, I do follow and occasionally buy homes for my own sake.

And with the economy headed into the toilet, again. (Thank You Donald Trump!)

I have heard that there are thousands of homes in pre-foreclosure. This means the home owner hasn't made any mortgage payments for months. Thus, here is one explanation:

The temporary freeze on foreclosures applies to Fannie- or Freddie-backed, single-family mortgages only. The pause on evictions applies only to tenants who live in properties that have been acquired by Freddie or Fannie through foreclosure. It does not apply to tenants in homes that have not been foreclosed on.Aug. 27, 2020

So, with homes about to be foreclosed upon; and the amount of homes already foreclosed but still being occupied by the owner or tenant, we are going to see, probably at the beginning of the new year, another tsunami of homes for sale via foreclosure or portfolio sales just as we saw in 2009.

So, if you are a home investor, kind of like me, you are going to see another opportunity like in 2009, to acquire rental properties on the cheap.

Since I was looking to buy another rental property this summer, the wife and I decided to hold off to see just where prices were headed.

I think down.

To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!

Nothing like Heading Full Throttle Right into an Economic Depression

I am predicting economic disaster coming our way full throttle in the coming New Year of 2021.

To me, what Donald Trump and the Republicans have done with their Tax Cuts, is going to leave us hanging and will result in a large economic collapse than we had in late 2008 and early 2009.

Am I being pessimistic?

Yes!

Will many people be losing their homes again?

Yes!

Was Donald Trump the wrong person to be President?

Yes!

And, his lack of leadership during this pandemic, has only fueled the fire.

I am guessing it will take more than a year to recover from such a devastating result of his incompetence!

Disagree?

Ok!

To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!