The Dallas Real Estate Market is wilder then ever with foreclosures at all time lows following the COVID Pandemic.
A recent report from CoreLogic found that only 0.1% of homeowners in DFW were in foreclosure. Which is down 0.2% from March 2021. While 0.3% of U.S. homeowners are in foreclosure the same time last year.
These numbers are extremely low. Which is a good thing. That means more people are staying in their homes while being behind on their mortgage payments, but analysts predicted this number to rise later this year.
The COVID Pandemic relief efforts offered a lot of government programs, and safe guards to keep homeowners from being forced out of their homes for being behind on their payments. While many people were losing their jobs, and feeling the financial strain. However, these programs are starting to end. So, more people will start to have to face the reality that they may have to sell their home.
However, Dallas and almost every other real estate market in the nation is in a "Gold Rush" right now. Home values have sky rocketed so much that listing your home for sell would bring you much higher amounts then your home would otherwise be worth. Selling your home right now if facing foreclosure could essentially keep you from losing your home to foreclosure, and still walk away with a profit. Which is crazy once you think about it. Most people in foreclosure are trying to make the best out of a horrible situation for their family. Now, they might actually be able to cover their missed payments, sell for a nice profit, and buy another more expensive home...if they can actually find one.
2021 has been an unpredictable year. It is one of the best markets for homeowners. This only proves it. Call me for all your buying and selling needs.
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