Scottsdale, AZ (PRWEB) October 2, 2006
Real Estate Fortune http://www.refortune.com According to Tim Rocho, CEO of the foreclosure data provider and training firm Real Estate Fortune, “There is no longer any speculation on whether or not foreclosures will increase, the questions are how high will they go and what’s appropriate action for homeowners, banks and investors in this type of market”?
"April looked to be the turning point in a significant uptrend in defaults according to our research. Maricopa county foreclosure filings have increased 77% (from 624 to 1106) since April of and Trustee auctions sales have tripled (35 to 116). These are dramatic percentage increases, but to keep these numbers in perspective, April did present historic low numbers and apparently the bottom of the foreclosure market."
"It’s been since early 2005 that new foreclosure filings were 1000 or more, and we’ve been there for the past two months. Three other key indicators for a continuing upward trend are the number of properties are reaching auction, "for sale" inventory and outstanding pre-foreclosures."
He explains, "September’s 116 auction properties is the highest since May of 2005, and the one month addition of 318 properties in pending foreclosure (total 2974) is the highest since we started tracking data in 2001. ARMLS for sale inventory exceeds 45,000 and if you add in FSBO’s, pocket listings, new builds and others we have 6-8 months inventory. Increasing inventory means more auctions and more auctions predict increasing REO’s (bank owned homes)."
"Real Estate Fortune, llc. provides the data and trains investors, realtors and loan officers on how to locate owners in default. We teach methods and strategies to work with the owner and the banks to mitigate losses and create a win-win solution. We don’t just provide one or two strategies as the property and owners’ situation dictate the method 90% of the time. We cover loss mitigation, short sales, subject-to, re-fi, lease-option, equity split and other methods to stop foreclosure proceedings."
"To make working with defaults simple, I explain the process in a Three Phase Foreclosure Opportunity Timeline that can be used by investors across the U.S. It explains the process of default all the way through the reason an owner gets behind, through the legal process and all the way to the auction and REO’s. That way, someone can easily see what is happening and how they can leverage contacts, methods and information to be successful. Phase One investing ideas can be found on our website by clicking the link for Creative Real Estate Lifestyles magazine."
"We also offer (for Arizona investors) the fastest, freshest and most complete foreclosure data daily, right to their email box every evening. We sell the Sharkbait foreclosure management software to give our clients a distinct competitive edge and offer hands-on mentoring to assure them the highest degree of success."
Tim concludes, "For the foreseeable future, defaults will rise. Investors should increase their knowledge and put a system in place to successfully work with defaults. Homeowners should look at their mortgage, income and expenditures to determine if an impending disaster is lurking around the corner. And banks might want to be more proactive in Phase One (from the initial default to the time they actual decide to file foreclosure)."
Real Estate Fortune sends subscribers daily data on all of the activity that happened in the foreclosure market that day. The data is formatted to import into Sharkbait foreclosure management software. Their research partner, Tom Ruff of The Information Market, has well over a decade of experience in the property data business and has a full-time staff of people researching sales, cancellations, new filings and trustee information for subscribers and investors.
Subscription information can be found at:
The company has also developed a highly effective series of training programs for the new real estate investor, or those who would like to take their effort to the next level. More information about Tim’s 90-Day Investor Challenge Training program can be found at:
For more information, contact:
Real Estate Fortune, llc.
7702 E Doubletree Ranch Rd
Scottsdale AZ 85258
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