Independence Title Inc. Founder Does the Third in a Series on Housing Market Trends Seen in 2013

Fort Lauderdale, FL, August 14, 2013 --(PR.com)-- Picking up where he left off in his interview on housing market trends one of Florida’s top title insurance company founders, Independence Title Inc.’s Kevin Tacher gives insight on how the mortgage crisis is beginning to fade and so is low priced foreclosure deals. “Records show that while the number of homes in distress is at approximately 2.3 million units, which is still fairly high, the homes aren’t being put up for sale as easily as one would think. The truth is that in some cases the banks are showing grace to equally distressed homeowners,” said Tacher. “By grace I mean, they aren’t forcing homeowners to go into short sales quite as often.”

Tacher goes on to explain that out of the approximately 2.3 million homes in distress with seriously delinquent mortgages payments, at least half of them have not seen any forced action from the banks due to a backlog in processing. “Whether it’s the backlog or the grace measures either is a blessing that can prove to be the difference for a homeowner. It’s more amazing still when you consider that some banks are even offering principal reductions to loan balances as opposed to forcing a homeowner to put the home in a short sale.” added the title insurance company founder.

From another vantage point in the market, a large number of properties that actually have been repossessed by lenders are currently being sold off to investors in portfolios. That means big business causes individual buyers to lose out on a good deal. It’s assured that when the home comes back on the market with the investor’s improvements it’s not at a bargain anymore. In addition, single-family bank owned homes are being auctioned in rental home portfolios. This tends to attract even bigger investors who analysts say are set to buy tens of thousands of properties over the next few years. Tacher weighs in on how this affects individuals, “That’s great news for sellers who have struggled to stay afloat while their neighborhood property values have been reduced so drastically by banks who priced repossessed homes low to liquidate them. However, if you’re an individual buyer that means rising prices for you because the big companies are buying up the inventory for their portfolios.”

Founded several years ago by Amazon.com Best-Selling Author Kevin Tacher, Independence Title Inc. is located in Fort Lauderdale, Florida. They are one of South Florida’s fasting growing Title Insurance Agencies. Independence Title is locally owned and managed. They provide their team of title professionals with state of the art technology, mobile applications and continued training. Together with support of the top underwriters in the title insurance industry, they have the expertise to complete real estate transactions with the highest level of efficiency and client service. For more information on Independence Title, Inc. or to download Kevin Tacher’s best-selling book, “SOLD” visit www.TitleRate.com