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148-TNG Radio – I Survived Real Estate 2009 11-14-09
This week The Norris Group Real Estate Radio Show and Podcast presents Part 9 of . This is the final installation of the audio for this event.
4 Ways to Listen
- Click HERE on the player launch below to stream our shows as you surf the web.
- Visit our Radio Archives to download shows in mp3 format.
- TNG Real Estate Radio Show is now on iTunes! If you have iTunes installed click HERE or simply do a search for "The Norris Group" while in iTunes.
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Delinquencies have exploded. From July 08 to July 09, we have gone from 5.3 percent to 9.7 percent delinquencies. The inventory of REOs has gone down, because banks have not taken back as many as they should. Some people have not made payments in 14 months. Trustee sales have also declined during this same time period. We had 28,795 trustee sales in July 08 and then we progressed to the 9.7 percent delinquency rate. We are currently 306,000 trustee sales short of where we should be. That averages 25,000 homes going out per month in the future. We have not peaked at delinquencies, and according to reports, we will soon be at 13 percent delinquencies. At 13 percent, we will be releasing 70,000 homes per month. Bruce does not believe that we can have a positive market if these statistics are true.
Bruce Norris
President The Norris GroupDavid Kittle
2009 Chairman Mortgage Bankers AssociationPat Vredevoogd Combs
2007 President National Association of RealtorsTommy Williams
2008 President National Auctioneers AssociationChristopher Thornberg
Principal Beacon Economics
John Young
Vice President California Builders Industry AssociationJoseph Magdziarz
Vice President Appraisal InstituteRick Sharga
Senior Vice President RealtyTracTo Benefit:
I Survived Real Estate 2009 Sponsors
A huge thank you to all of our sponsors who made this event possible.
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