Home values rise for first time in 5 years!
Numbers don't lie (usually), and the numbers are in. According to Case/Schiller and Zillow, inventory is declining and home prices are rising. While most would take this information and positive media as an end in the looming foreclosure disaster, it may be advisable to consider taking a closer look at how banks have been behaving lately.
Just from personal experience and a few of the foreclosures I currently have under contract, banks seem to be moving a lot of inventory around to other banks and servicing companies. While it is not uncommon to have a delayed closing due to waiting for an updated deed from a debt transfer, I currently have 4 out of the 23 bank owned transactions I am in the process of purchasing delayed for just that reason. It is like anything that is troubled; when things get shaky, so do their actions. For investors, take a closer look at your market before you decide to jump in feet first based on a couple of recent articles..... Unless, of course, you are buying in Texas!