Foreclosure Market Up 28%

Foreclosures are up, fed could increase rates, and SEO strategies to help you navigate the competitive market

Author

Alex Z.
October 31, 2023

This week we dive into the fed, interest rates, SEO strategies and some new resources that launched. The real estate market remains in flux as interest rates are high, inventory is low and home prices are slowly coming down. Investors today must decide if they continue with their marketing budgets and close on properties in hopes of refinancing later. Let’s dive in.

News & Trends

  • Facing a strong economy, Fed puzzles over how to slow it down (Washington Post)

  • The Fed will make an interest rate decision this week. Here's what it could mean for mortgage rates. (CBS News)

  • According to the ATTOM Data’s Q3 2023 U.S. Foreclosure Market Report, there were 124,539 U.S. properties with foreclosure filings (default notices, scheduled auctions or bank repossessions) – up 28% from Q2 and 34% from a year ago.   In September alone, there were 37,679 U.S. properties with foreclosure filings, up 11% from August and up 18% from September, 2022.

  • Reuters is reporting that the Mortgage Bankers Association’s weekly index of mortgage application activity fell 6.9% in the week ending 10/13/23 to 166.9, the lowest since May, 1995.  The report showed applications for home loans fell 5.6% to the lowest point since February 1995 and applications for refinancing fell 9.9%.

  • The New York Post is reporting that a recent crackdown on Airbnb listings by New York City has led to a black market for rentals that have now gone “underground.”  The new rules (which went into effect in early September) imposed tougher regulations that restrict most short-term stays and limit reservations to only two guests.  In addition, the Post says industry experts said this puts both renters and apartment owners at risk of scammers as Airbnb stopped taking and/or canceling reservations – leaving those who had booked a visit scrambling to riskier options.

Strategies & Tactics

  • How To Avoid 14 Keyword Research Mistakes (Low Fruits)

  • How To Use ChatGPT To Analyze A Drop In Your SEO Traffic (Product Lessons)

  • How Many Hashtags Should You Be Using On IG Reels? (Hootsuite)

  • Facebook & IG Stricter Advertising In The EU - Here’s How They Are Solving The Issue (The Verge)

Resources & Tools

Featured

Eric at Rental Income Advisors has published a monthly report of his buy and hold investment properties for years. Each month he breaks down any expenses or revenue increases to his portfolio and shares his plans to further increase the ROI of his investments. Not only does he provide transparent data into his 25+ rentals, he gives market insights and thoughts. I strongly recommend you check out his blog and give him a follow.