Yes there are going to be quite a few new Metro Detroit foreclosures coming. Between the moratorium that President Obama put on foreclosures and the moratorium that Governor Granholm put on them we don't have many Metro Detroit foreclosures right now. Plus Fannie Mae the quasi government middle man is under going some procedure changes. So some homes have been pulled off the market.
Even the big foreclosure real estate agents have a small inventory. What has happened is that the moratoriums did not end until May. So it takes us here in Michigan 6 months longer because of the homeowner redemption period. So we may see a lot of new foreclosures hitting the Metro Detroit real estate market in December and January.
I hear that there are about 4000 that are about to hit. But I don't think anybody really knows how many Metro Detroit foreclosures that will hit the market soon.
__________________________________________________________
I am walking in the Tampa 3 day cancer walk in October. Support cancer research by going to www.the3day.org/goto/marianneravary and donate as much as you can. My wife got to live 20 years after finding out she had breast cancer due to advances in cancer treatment. Be part of the team and help me. I would like to be able to give some other "special lady" (like my wife Marianne) more days on this earth. If we can give another lady another night to enjoy with friends, an extra week to laugh & hug her kids, an extra month to love her spouse, or an extra year then our money will be going to a good cause. The grants from the Susan G Komen 3 day walk have been instrumental in cancer research. Help me give more time to somebody else please donate to the 3day walk. Thanks
Russ Ravary your Metro Detroit realtor
Russ, 2010 will certainly be an interesting year for us, won't it?