Real Estate
Germantown Maryland | The Foreclosure Crisis: 10 Years Later
 
At a local level in Germantown Maryland, buyer confidence remains strong with some changes that varies on the price level and what type of houses they are looking for. 
As you are aware, for most families, choosing a new home is the biggest financial decision they will ever make and for that reason, there are many complicated decisions involved in choosing your new home. 
 
Today I would like to talk to you about  The Foreclosure Crisis: 10 Years Later.
 
CoreLogic recently released a report entitled, United States Residential Foreclosure Crisis: 10 Years Later, in which they examined the years leading up to the crisis all the way through to present day.
 
With a peak in 2010 when nearly 1.2 million homes were foreclosed on, over 7.7 million families lost their homes throughout the entire foreclosure crisis.
 
Dr. Frank Nothaft, Chief Economist for CoreLogic, had this to say,
 
“The country experienced a wild ride in the mortgage market between 2008 and 2012, with the foreclosure peak occurring in 2010. As we look back over 10 years of the foreclosure crisis, we cannot ignore the connection between jobs and homeownership. A healthy economy is driven by jobs coupled with consumer confidence that usually leads to homeownership.”
Since the peak, foreclosures have been steadily on the decline by nearly 100,000 per year all the way through the end of 2016, as seen in the chart below.
 
If this trend continues, the country will be back to 2005 levels by the end of 2017.
 
Bottom Line
As the economy continues to improve, and employment numbers increase, the number of completed foreclosures should continue to decrease.
 
To protect your interests and assure that you make the best possible decisions, 
it's important that you have a knowledgeable agent on your side who is an expert in the local real estate market.
 
We are dedicated to keeping you on top of our local market. Rest assured that we will provide you with a well-informed, 
and the most updated strategic view for your home purchase in Germantown Maryland
 
To reach us, please call 301-246-0001
or send us an email @ info@ReallyNiceHomes.com
 
Search for the newest listing here: Germantown Latest Listings 
 
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???Thinking of selling your home? Let Fernando take over the marketing of your property with our unique 99 STEPS system 
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