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Foreclosure Auctions Expected to Have More Properties to Offer in the Coming Months

Housing market analysts predict that more homes will be available at home foreclosure auctions in the coming months. Homebuyers and investors will be the biggest gainers should the predicted rise in foreclosure numbers materialize.

Home Foreclosure Auction

Although there have been worries over the impact of another foreclosure wave, most housing experts believe that the effect will not be as devastating as the crisis that hit the sector five years ago. Homebuyers and investors are expected to keep the balance between supply and demand.

Processing Picking up Pace

Analysts are predicting an increase in the number of properties at foreclosure auctions mainly because they expect lenders to pick up the pace in processing distressed properties. Federal investigations and problems with robo-signing have stalled a huge number of foreclosures, but these properties are now expected to flood the market.

Despite the expected second wave of distressed properties, most analysts agree that it is unlikely that there will be a second housing crisis. They argue that investors and home buyers will likely pick up most of these low-priced dwellings as most are already aware of the many advantages of purchasing repossessed and foreclosed dwellings.

What Buyers Should Expect

More options and cheap prices will continue to spoil buyers and investors for choices. However, analysts also reported that they may have to move fast as mortgage rates are starting to rise in conjunction with the market recovery. Lenders are expected to step up efforts, not only in processing distressed properties in their books, but also in marketing their homes that are up for sale.

In related news, a report from the National Fair Housing Alliance has alleged that lenders are maintaining and promoting foreclosed homes in white neighborhoods better than they do foreclosures in minority neighborhoods. Whether this will have an impact on buyers' preferences is something that the next few months will likely demonstrate.

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