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Market News and Trends

Foreclosures — a quick footnote


Earlier I posted a link to an item in today’s Austin American-Statesman (New-Home Sales …), and I have commented on the specific lead item.  Another digest item is worth pointing out:

Mortgage financier Freddie Mac issues warning on foreclosures

“Since the federal government seized control of Freddie and Fannie in September 2008, the two companies have siphoned $111 billion in taxpayer dollars to stay afloat. That number is expected to hit $188 billion by fall 2011.”

Even though Austin is in far better shape that many other places, these important sources of mortgage funds will continue to struggle.  We will get through this, but buckle up … there is a lot yet to go through.  (See Is The Mortgage Crisis Ending?)

About Bill Morris, Realtor

Many years of business experience (high tech, client service, business organization and start-up, including 18 years in real estate) tell me that service is the key to success and I look forward to serving you. I represent both buyers and sellers throughout the Austin metropolitan area, which means first-hand market knowledge is brought to bear on serving your needs. Learn more about my background and experience, my commitment to my clients, my profession, and to the real estate industry at CentralTexasHomeSearch.com.

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  1. Pingback: Distressed properties, distressed sellers « Bill Morris' Austin Real Estate Blog - March 17, 2010

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