Sheesh, after all that good news we were reading, the housing market seems to be turning down again somewhat.
According to
an article in the St Louis Post Dispatch:
Foreclosure activity in metro St. Louis ticked up again in
September, hitting its highest level in eight months, though it's
still well behind last year's pace."Lenders are cautiously throwing more wood into the foreclosure
fireplace after spending months trying to clear the chimney of
sloppily-filed foreclosures," said chief executive James
Saccacio.
In addition to that,
another article states:
When it comes to housing, this is still not a seller's
market.
Home prices in metro St. Louis fell 5.5 percent in August,
compared to the same month last year, according to a new report out
Thursday from data firm Core Logic. That's a bit better than the
7.5 percent tumble reported in July, but still lagging the national
average, and deep in negative territory compared to last
summer.
Removing "distressed" properties - homes in some stage of the
foreclosure process - improves the numbers somewhat, but even then
prices fell 2.6 percent, compared to 4.6 percent in July.
So what's that mean for us? Hard to say. It still could be a great time to buy foreclosure or cheap houses. It still is probably a not so great time to be selling a house though. So if you need some help renting out your home while waiting for it to sell, or if you are looking into investing in some properties,
contact us. We would love to help you out.
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