Foreclosures up, Moratorium results?

Earlier this week, a staggering statistic was released. Dallas foreclosures are up 32% from this time last year. They were already up an unbelievable percentage last year, so with an increase of 32% we have foreclosures flooding these Dallas streets. Foreclosures don't just seem to be popping up in bad zip codes anymore; they are everywhere, even in the best neighborhoods.
Recently as a part of President Obama's focus to work with the home owners facing foreclosure to try to keep them in their homes, a moratorium was issued. As it turns out, about 90% of those mortgages were unable to be salvaged. Basically what this means is that all of the banks have been holding their foreclosures from the open market until now, as the moratorium was recently lifted.

What does this mean...? Here is what I have been experiencing in the market:

Asset managers have now realized that these markets are full of inventory and most of these houses are in distressed contition, which turns away owner occupants. The only people buying the distressed foreclosures are investors. Now asset managers are making the distressed foreclosures more attractive to the bulk buyers. I know a lot about this field of real estate because my company specializes in buying bulk packages of houses and selling them to individual investors. Please contact me if you want to talk more in detail about that.

I am eager to see how the next quarter real estate sales stats will look, and how much of the commercial real estate problems will rain down on residential, but foreclosures are up to an all time hight and we still have a 45 to 90 day window to get the best deals on residential real estate that Dallas has ever seen. I say get in now!