Eugene/Springfield Area: More on Our Troubled Real Estate Market

You probably know someone who, because of this economy, has had to sell their property or lost it in foreclosure. And unfortunately, there are still many owners who are in or will be in trouble. They are in a bad predicament. Here are some of the problems they are facing:

1. unemployment

2. sinking home values, resulting in

3. over encumbered properties

4. credit issues

(no good choices)

The stress of financial difficulty is enormous. The first month of this year we have seen an increase in first time unemployment filings. Unemployed people don’t pay their mortgages. That has pushed us to a higher delinquency rate on home loans. Many people have stopped making their payments and are thinking about ‘just walking away’. Well, that is an unfortunate and uninformed choice. And it hurts us all

1. it hurts the owner because a foreclosure ruins the owners credit for up to 7 years

2. it hurts the neighborhood real estate values because bank owned properties are usually poorly maintained and look very bad.

3. it hurts our community real estate values because bank owned properties usually sell for much less than normal owner occupied properties

4. it hurts the bank because they could get more money out of the property if the owner had hired a broker and sold via a short sale

5. it hurts the condition of the property because banks take for ever to sell their properties and letting a property sit vacant can causes all kinds of problems.

So, if you know of some one who is in trouble, ask them to call me. There are several alternatives we can discuss. If it turns out that a short sale is the best way to go, we can work together and stop another foreclosure for our neighborhood and our community.

Even if they are in foreclosure and have a sheriff’s sale date set, it is not too late.

So, what is going to solve the problem? The answer is ‘More Paychecks’! And we all know that will take several years to happen.

In the mean time, we all need to work together to stop as many properties from foreclosure as possible.

If you have a friend who's behind on their loan payments or owes more against their property than it is worth, please suggest they watch this video on Foreclosure Alternatives.

video.RealEstateByCurtis.com

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FREE 24 Hour Recorded Information @ 1-800-735-9351 enter code 5066

PERSONALIZED SERVICE BY ME, MYSELF: After over 30 years of running a large real estate company here in the Eugene/Springfield area, I now have a small company focused on individually designed service. This means you will work directly with me in meeting your real estate needs.

FREE 24 Hour Recorded Information @ 1-800-735-9351 enter code 5191

Or, my number is 541-554-5914 if you’d like to call.

Thanks again and take care, Curtis

6 out of 10 Distressed Home Owners Don’t Even Call Their Lender!

I just read an article that really disturbed me.
The article was written by Jonathan Bowman, founder of Short Sale Association of America (SSAA). In it he states,
“Some experts attribute the crisis to unemployment, property depreciation, or general economic hardship; but perhaps none of these factors are as important as Freddie Mac’s report that 6 in 10 homeowners in pre foreclosure aren’t even aware of the programs and services available to help them prevent foreclosure “
His article went on to say. “Knowing that most distressed homeowners will not seek assistance on their own, it is our responsibility (he is talking about real estate broker like me) to reach out and assist homeowners who are in a pre-foreclosure situation.”
It made me realize how important my services are to people who are behind on their house payments.
Mr. Bowman adds, “We believe that everyone wins, including taxpayers and banks, each time a homeowner is able to avoid foreclosure. We bring qualified, local real estate professionals together with distressed homeowners and their banks to help ensure that this happens whenever and wherever possible.”
Here is the link.
http://finance.yahoo.com/news/SSAA-Helping-Agents-Connect-bw-1094773870.html?x=0&.v=1

If you anyone you know are behind on your house payments or owe more on your home than it is worth, please contact me so I can help you. Phone: (541) 554-5914. Email curtis@curtisirving.com

Thanks for reading this, Curtis Irving.

For more information about how to STOP FORECLOSURE to go http://eugeneshortsalebroker.com/

View 1000's of Eugene/Springfield area HOMES FOR SALE at http://curtisirving.com/

Curtis is the principal broker/owner of Curtis Irving Realty Group.
Phone: (541) 554-5914. Email curtis@curtisirving.com
Customer First with Curtis Irving

Eugene Loan Modification Help, Eugene Short Sales. Curtis Irving specializes in loan modification assistance and short sales in Eugene Oregon. Eugene Short Sale Realtor. Short Sale Realtor. Eugene OR Short Sales. Eugene Realtor.
Copyright 2011 Curtis Irving Realty Group, LLC. All Rights Reserved.
Disclaimer: This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Curtis Irving's personal views from his experience over many years of being in the rel estate business. This information on is provided as a courtesy to our viewers to help them make informed decisions.

Date Line 02-08-2011--Is The Real Estate Market About to ‘Bottom Out’?

I really get asked this question a LOT!

Is the real estate market turning around?

Well, I think it’s still really too early to tell for sure yet. According to a RealtyTrc* article I read recently, the USA had a record year in 2010 with over 1 million properties foreclosed upon by lenders.

But, in the midst of this bad news is some good news. New defaults dropped 20 percent in 2010. This marks a first reversal, since 2005, in the trend of increasing defaults and foreclosures. If this trend continues, it may indicate the market is hitting bottom and the foreclosure cycle could be at its peak. In 2011 lenders may finally be able to start clearing out the backlog of distressed loans built up over the past five years.

Obviously there are still some concerns. The risks of continued high unemployment, the number of existing properties with negative equity and the resetting of adjustable rate mortgage loans, ARM’s, could trigger further a foreclosure aftershock. This is, however the first positive sign I have noticed in the statistics on defaults and foreclosures

I believe, for this positive trend to continue, we need to see the general overall economy start to pick up.

Video: 2010 Year-End Foreclosure Report

View top 10 states for REOs

* RealtyTrac is the leading company in the USA tracking defaults, foreclosures filings and bank owned properties.