After attending a webinar the other day by John Tuccillo, one of the foremost real estate economists in the United States, I started asking people around me what they understood the foreclosure rate to be. Most folks said based on everything they heard in the news 10 -20%. That is just another example of the media sensationalizing information. Fifteen percent is a correct number but it is 15% of the homes that have sold have been bank owned foreclosures. NOT 15% of all homes are in foreclosure. That number is actually 2-3%. Still not good but better.
Here is an example of how important it is to get the whole story. In this day and age of viral information, sound bites go out to millions and are believed to be completely true. And this affects consumer confidence and that affects something else and so on and so on….
So my advise to you is get your facts from a professional in that particular field. Knowledge is empowering.
Barb Beckwith
Cutler Real Estate
330.491.2813
Homes@BarbBeckwith.com
Start your home search at http://www.barbbeckwith.com/
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