Real Estate Broker, Realty Executives Silicon Valley
11 months ago
Our market in Silicon Valley is stable at the moment. But there will be more foreclosures on the horizon. The hint that this is happening is the approach the banks take when discussing clients situations with them. I have experienced this roller coaster ride for the last few years. The first indicators of a shift is the banks response time and level of negotiation. They are being less flexible. This is due to the DOJ settlement is behind them. The 2nds are gone, and the servicing has been sold. So they are back in a position of strength. The Media has exhausted the negative impact. So they will now be agressive to foreclose in order to liquidate. There are still options and stopping a foreclosure is very easy as long as you understand what the bank must do to proceed.