|By PR Newswire||
|April 1, 2014 11:00 PM EDT||
SAN DIEGO, April 1, 2014 /PRNewswire-iReach/ -- A new article from LoanLove.com takes a look at the foreclosure inventory 2014 is predicted to have and goes in to detail about how the decreasing trend in foreclosures can be both good and bad news for those thinking of purchasing a home this year. The team at LoanLove.com is devoted to help empower both first time and experienced homeowners with valuable resources, first-class knowledge and connections to top-rated industry professionals and has the mission of helping consumers and borrowers to obtain the latest information on mortgage lending news, the real estate market and the U.S. financial landscape in order to help them obtain a home loan that they will love. The new article continues to keep home loan borrowers up to date so that they can best plan for their home loan goals this year.
The new Loan Love guide entitled "Foreclosure Forecast For 2014: Anticipated Impact On Housing Market" starts by saying, "The foreclosure forecast for 2014 reflects the housing market's continued slow but steady crawl toward recovery, with fewer homes expected to end up in foreclosure or short sale situations. As 2013 drew to a close, real estate market forecasters from coast to coast were making bold predictions of an anticipated marked decrease in distressed properties. The first couple of months of 2014 would seem to support those assumptions. U.S. foreclosure filings in February dropped to the lowest level experienced in over seven years, a figure 10 percent lower than the month prior. Foreclosure numbers have continued to follow a downward trend since peaking in 2010 at 1.05 million."
So how do these foreclosure trends impact new home buyers? Loan Love explains, "Despite the positive signs, it is still too early in the game to consider the housing market back to "normal," however you might define "normal" these days. But the market is clearly continuing its steady pace in the right direction as appreciation moderates, negative equity situations begin to right themselves, and foreclosures slow. Distressed properties are still contributing to the national supply of available homes, but foreclosure filings are clearly falling. Improvements in the economy have meant fewer homeowners losing their homes and more lenders agreeing to short sales. Meanwhile, the recovery has meant home prices, along with home equity, continue to rise. For prospective home buyers hoping to scoop up a deal, the reality is the once robust foreclose market has greatly slowed, a trend expected to continue. But that doesn't mean there still aren't opportunities available in foreclosure and short sales."
The article goes on to explain that there are still areas where foreclosure rates went up despite historically low national foreclosure numbers. This means that there are still quite a few chances for fast moving and prepared home buyers to snatch up a great deal on a home. However, the article says, "Bottom line: foreclosure sales are likely to play a diminishing role in the housing market in 2014, with continued year-over-year decreases on the horizon. Foreclosure starts continue to track downward as well."
For more information on foreclosure predictions for 2014, click here to read the full article at LoanLove.com.
Media Contact: Kevin Blue, LoanLove.com, 949-292-8401, [email protected]
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