“November Foreclosures Take A Dip”

This is the story in today’s CNN Money.com. The article states…

A new read on foreclosure filings showed a double-digit drop for November…

The slowdown] could indicate that foreclosure activity has topped out for the year,” James Saccacio, RealtyTrac’s chief executive, said in a statement. “But,” he added, “the true test of whether this ceiling will hold will come at the beginning of next year when we anticipate that a seasonal surge in foreclosure filings and another possible wave of resetting mortgages could place further pressure on the housing market.”

However, now that the new government plan is in action, which will take effect on Jan. 1st, 2008, will produce even less foreclosures in the first quarter. This will mean foreclosure inventory will dry up and we will see prices stabilize. This could mean this is the best time to purchase that short sale or bank owned property that you have had your eyes on because it may be gone by next month.

  • Will

    …you must be kidding.