Welcome to Real Estate Coaching Radio hosted by the nation‘s leading Real Estate Coaches, and best selling authors of HARRIS Rules, Tim and Julie Harris. Listen now to real estate coaching and training that will give you the exact path forward in your real estate business. You will learn real estate scripts, real estate listing presentations, how-to generate real estate leads. Tim and Julie Harris Real Estate Coaching has been the proven resource for over 2 decades with 1000s of real estate pros trusting Tim and Julie Harris for their real estate success. Recognized by The Motley Fool, Inman News, Google (and countless others) as one of the most influential podcasts in real estate. Tim and Julie Harris are proudly partnered with EXP Realty.
Episodes
Tuesday Feb 02, 2021
Tuesday Feb 02, 2021
Update on distressed property...
-22 million jobs lost
-Peak of Forbearance requests was March of 2020 when 8% of mortgages were in forbearance.
-Averaging more coming OUT of Forbearance than going IN.
-87% of Forbearances are successful
-400,000 new ones expected to default plus 250,000 already in system = 650,000 total. During housing crash there were 2 million total.
Are you ready to join EXP REALTY? Choose Tim and Julie Harris as your sponsor! Text Tim directly 512-758-0206.
Will there be an REO surge?
-Not likely anytime soon.
Why?
-The market will easily absorb inventory, Fed Intervention, -equity.
What about Short Sales?
-Some short sales or a short sale like solution will arise but no time soon.
-FHA borrowers are the most behind, most likely to go into default but also most likely to get government intervention.
Also: regarding investors.
In 2019 there were 250,000 fix and flips
10 to 12% of all transactions are investor purchases, 13 to 15 billion in volume yearly.
Unlike the last time, the big opportunity won't be in buying distressed opportunities. The biggest opportunity will be helping people who have EQUITY but can't pay their mortgage because they've yet to find replacement employment.
More facts:
According to NAR, 35 to 45% of agents own at least 1 rental property.
90% of investors are 'Mom and Pop' investors who own 1 to 10 rentals.