Smooth sailing...or is there another swell looming ahead??

The housing market is facing more and more homeowners who are 90+ days delinquent but have yet to lose their homes, this is threatening a new wave of foreclosures that could hit just as the real estate market has begun to stabilize.
Approximately 7 million properties could be heading for foreclosure. Some economists think it could take almost three years before all these homes have been put on the market and purchased by new owners. The number of pending foreclosures could grow much bigger over the coming year as more distressed borrowers become delinquent and then if they can't get a loan modification, go through the foreclosure process, which can take up to a year to complete. When these foreclosed properties add to the supply of homes for sale, they could add to a decline in housing prices, which have increased slightly through April. That rise was partly because of the tightened flow of foreclosed homes into the market and the $8000 First Time Buyer Tax Credit. Perfect example of supply and demand, a lot of buyers and not enough inventory.
The rate of seized properties, for example, peaked in the middle of 2008 and fell steadily last year, but the banks expect foreclosures to increase this year, nearly doubling to 45,000 by the fourth quarter.
So the positive housing data may not be signaling a true bottom, as many servicers are holding back on foreclosures and the distressed houses are not yet being offered for sale. It could take almost 3 years to clear the backlog.
While banks foreclosed on fewer homes in February than a month earlier, borrowers continued to fall behind on their payments, adding to the inventory of properties headed toward foreclosure that have yet to be put on the market.
The shadow inventory reflects the increasing lag between defaults and foreclosures. Many lenders are struggling to keep up with the overwhelming number of borrowers who aren't making their payments, they're hesitant to rush in and foreclose, which would mean adding more homes onto the market, bringing prices into decline once again.
If you or anyone you know, would like to avoid foreclosure and know your options, please feel free to contact me.

Get Your "Crunk On" Starbucks Happy Hour

The days are warming up and the deals are getting better. We need something to help stretch out our dollars a little more these days!

Go to a participating Starbucks between 3 and 5 p.m., and enjoy a half-price Frappuccino® blended beverage.
Feel like getting a head start on happiness? You can create your own favorite Frappuccino® blended beverage right here. Share it with your friends and invite them to meet you. Starbucks is celebrating Happy Hour from now until May 16th.

One per customer, U.S. & Canada stores only. Void where prohibited. Cannot be combined with other offers or discounts.


Or try the Totally Target website. http://www.totallytarget.com/
The deals on here are some of the best. Target lets you use their coupons along with the manufacturer's. Some items are FREE! Especially the items you purchase that have a $5.00 Gift Card along with the purchase.

You can check out the Crazy Koupon Lady as well

So let's stretch those dollars thru the summer and have some fun!