We are movin on up....
2377 foreclosure court cases in Los Angeles County today! A pretty big jump from yesterdays numbers. And the outcome of yesterdays cases are:
1750- Auctioned off
176- Cancelled
118- Bank owned
39- Third party
Once again the number that stands out for me is 39 to a 3rd party. That means some business, investor, or group of some sort now own that property and will probably make a huge profit off of it.
Why not you or your group? As a my grandfather once said "time waits for no man". When will you make your move?
As for the economy the LA Times reported that California's unemployment rate hits high of 12.6%. This is the single most economic indicator that can effect the stock and bond market and not the news we want to hear.
Another indicator the housing starts had a modest rise of 1.6% in March. This indicator records the number of new homes being built and permits for future construction. Not as important but still pretty important as far as real estate is concerned. This indicator is a gauge for the future of the economy. As mortgage rates rise, this discourages future construction of homes.
Whats on the calendar for next week?
Thursday, April 22nd, Producer Price Index, Existing home sales.
Friday, April 23rd, New Home sales, Durable goods orders.
One of the things that is effecting a lot of people right now is credit. We will start having little credit tips of the day to try to help as far as what to do to improve your credit situation.
Credit tip No. 1...
Know what your score is and what is on your report.
Like people who won't talk to their bank or creditors we put our head in the sand and have the "if I don't see it, its not there" or "I didn't know" approach. Both don't help and only makes things worse.
Again, control your destiny and future or it will control you. As Carlton Douglas Ridenhour said " we are all pieces in one big chess game". You have to decide what piece you will be on the board, a pawn, a rook, queen, king, etc.
I hope this blog is informative and if you should have any questions, comments, or would like to have a specific topic on this blog please feel free to contact me and my team. Until Monday have a great weekend and travel well.
Rex Chapman
The Concierge Group
(310)272-6789
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