More Foreclosures To Come

sudler-sothebys-logo7 July 2009 ? More foreclosures are to come. While the housing market has been showing signs of stabilization, we may see another surge of foreclosures before the end of summer, according to several major banks. Why now? Since the end of last year many lenders have held off on foreclosure proceedings, instead offering loan modifications made possible by President Obama?s home-stability plan, to qualified borrowers. But as these programs expire, many lenders have indicated that they will move aggressively to clear huge backlogs of delinquent mortgages. Additionally, with layoffs still on the rise, the pool of buyers qualified for modifications keeps shrinking. Obama?s administration has indicated that they are unlikely to implement another moratorium. This potential dumping of foreclosed properties into the inventory pool may counteract the balancing of supply and demand that has driven market improvement over the spring months, and could drag prices that were slowly improving in some areas back down.

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About Stacy Braack

Stacy is a seasoned real estate professional with a broad range of hands-on experience including first time buyers, investors, luxury homes, and distressed properties. While this may appear to be a scattered set of expertise, she believes the experience provides maximum effectiveness in today’s chaotic market, which requires extensive knowledge of all aspects of the industry. Stacy’s educational background includes a BS in Industrial Engineering from Stanford University and an MBA in Marketing and Finance from the Kellogg Graduate School of Management. Professionally, Stacy has done everything from operations consulting to city government before she found her passion in real estate almost eleven years ago. It is this passion that drives the most benefit to her buyers and sellers. She is fully committed to your goals – both financial and personal. Her clients describe her as extremely direct, honest, and responsive, and they repeatedly trust her to handle one of the biggest events in their lives. For buyers she works non-stop to find you both a home you will love to live in and one that is a smart investment. Many of her 2008 buyers have realized instant equity in their new homes through ‘pit bull’ negotiation skills. While the market has been tough for sellers, her listings have sold at a rate above that of the market. Extensive, constant, and extremely high-quality marketing, including both print and internet mediums, support every listing, from investment studios to luxury penthouses. She believes that your goals are her priority and her full-time job. She has built her business on referrals from satisfied clients, and she would love to add you to that list. You can contact her at 773-405-4431 or stacy.braack@sothebysrealty.com

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