According to CNN, foreclosure filings plunged 27% in February.
This is certainly good news, and welcomed in light of all of the negative news out there, but I don’t believe we’re out of the woods just yet.
Keep in mind that this is simply tracking foreclosure filings. There are still plenty of homes sitting out there now which have been foreclosed but, due to slow-moving banks, have not even been put on the market yet. There are also plenty which were filed previously but haven’t been processed.
What do you think? Has the real estate market hit bottom?
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