Thursday, October 4, 2007

The Foreclosure State of Mind

Foreclosures are happening at an unbelievable pace. It seems like more and more clients and potential clients are looking at letting property go, whether the property consists of their home or some land which they acquired for development purposes. The interesting that I have noticed of late, the last few days or so, is that many landowners are actually resigned to this fact of life. Last year, or even this summer, a pending sale would bring with it more anxiety.

I think this is part of the natural order of things. It's a sign that we might be hitting bottom in this market when the attitude of owners and sellers changes from frustration to resignation. Let's hope that resignation turns to eternal hope soon.

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