The foreclosure forecasters predict a new wave of foreclosures in the coming months and years. I am looking at new data for February 2010 concerning Corinth TX foreclosure announcments. It appears that 22 homes are about to be foreclosed. Some of them will not get to that stage due to realtors working short sales with banks. However, looking at numbers it appears that current homeowners will be faced with a competition from lower priced homes sold by banks. With 112 Active Status Homes for sale it makes it over 20% of homes offered for sale in Corinth are to be foreclosed properties. Also, note that during past Christmas holidays many banks actually delayed their evictions and we should expect early months of the year to expose more REO properties than in November/December of last year. If you are a buyer - this is your time! If you must sell - I would not recommend to wait to see if market gets better. With a tax credit extended till April 2010 sellers will have more buyers to come trhu their doors now rather than after April 30th. In fact, this means closer till March 30th, because the transaction must close on or before April 30th (I need to verify this!). Here is a current graph pulled from MLS to show you FOR SALE (in red) vs SOLD (in green) properties in Corinth, TX per month since December 2007.
