CA Foreclosures about to soar.
Mark Hanson at FieldcheckGroup.com expects California foreclosure rates to soar, probably beginning in February. Yeah, I know it is now April. His data shows a big jump beginning in February. Apparently, the lower numbers earlier in the year were due to a moratorium, which only served to build up pressure for some later date. Now the dam is about to burst.
Are you ready to see the future? Ten’s of thousands of foreclosures are only 1-5 months away from hitting that will take total foreclosure counts back to all-time highs. This will flood an already beaten-bloody real estate market with even more supply just in time for the Spring/Summer home selling season – great timing!
It is my experience that when something happens in California, Nevada is not very far behind.