Local Roots Real Estate

Does the recent rise in foreclosure filings mean we’re headed for another crash? The short answer is no.

Right now, only 1% of all homes are seriously delinquent, meaning the owners are more than 90 days behind on their payments. That’s only 1 in 100.

During the last crash, it was 9%. That’s 1 in 11. And that’s a big difference.

Plus, not every delinquency even turns into a foreclosure. Many homeowners work out repayment plans. Others will use their equity to sell.

So, don’t let foreclosure headlines spark flashbacks to 2008. This isn’t a wave. It’s a ripple at most.

You may see posts saying more buyers are backing out of contracts lately. But here’s the key thing to understand if you want to sell. There’s one common cause – and it’s something you can control.

Over 70% of recently cancelled contracts happened because issues popped up during the inspection. But that's a headache you can dodge with the right prep.

With an agent’s help, you can uncover potential issues early and fix them before you list. That way you’re not reactive, you’re proactive. And buyers never get caught off guard.

If you want to know which repairs are the biggest deal breakers for buyers today, DM me. That way, you stay one step ahead.

The #1 Reason Buyers Walk Away (And How To Get Ahead of It)

One of the biggest dealbreakers for buyers today is inspection issues – and that’s something you can control. You just need to be proactive about high-impact repairs before you list.

If you want help figuring out where to focus, let's connect so we can keep your sale on track from day one.

The #1 Reason Buyers Walk Away (And How To Get Ahead of It) You may have seen headlines on social saying the number of buyers backing out of their contracts is on the rise – and has recently reached a high not seen since 2017.

One Key Sign We’re Not Headed for a Wave of Foreclosures

Are foreclosure filings rising slightly? Yes. Are they anywhere near crash territory? No. And homeowners today have far more equity and flexibility than they did during the crash.

If you’re concerned about what you’re seeing in the headlines, the best move isn’t panic, it’s perspective. And the data right now says this isn’t 2008 all over again.

One Key Sign We’re Not Headed for a Wave of Foreclosures Foreclosures are ticking up. And that may make your mind jump straight to thoughts of 2008 – specifically to what happened to the market during the housing crash.