market changing quickly?
I recently spoke with a listing agent who was the original listing agent for my property that I eventually bought from a wholesaler. I was looking up my property under zillow and saw her name listed. I wanted to see if I could get more leads.
She gave me some bad news(for investors), saying that number of foreclosures has dramatically decreased this month. She typically sees 5000/month in the Houston area but now down to 900! She thinks its due to Obama's policies that delay foreclosures. I'm assuming that she's referring to HARP (Home affordable refinance program).
I'm not sure if that is an accurate assessment or not. However, that kind of significant drop from 5000 to 900 foreclosures is nothing to sneeze at. It may be a combination of factors including rising housing prices especially in the Houston market which then allows homeowners to refinance and/or sell their property once above water. Also, jobs are continuing to grow in Texas. (Houston fared better than the rest of the country during the recession)
What do you guys think about the current market in 2014 thus far?
At the end of 2013 and beginning of 2014, I was trying my best to close on good deals as fast I could (with my limited experience and knowledge). I know there are always deals to be found one way or another, but wondering what other's are experiencing in this current market?
What if interest rates jump up end of 2014 or early 2015, will that cause more opportunities or less (for investors)?
Anyone considering this: start hoarding a bit of cash/equity and reduce debt burden and start slowing down the acquisitions at this time?