Interesting interview with head of Zillow about the state of foreclosures and where we may be in this real estate market cycle. Thanks for the tip. Knowledge is power.... Thanks Spencer
The startling headline is this -- in 2006, the top 1/3 most expensive homes in each local area made up 16% of foreclosures. Today, the top 1/3 of homes make up 30% of foreclosures.
And here's the video from Bloomberg TV today discussing this and other issues. Sorry to come off as so pessimistic, but I call 'em like I see 'em. No spin here.
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Ron Margolis, RA, CDPE, ABR Hawaii Life Real Estate Services 808.346.7095 email: firstname.lastname@example.org