580: BiggerNews March: How a Surge of Foreclosures Will Impact the Housing Market w/Auction.com’s Daren Blomquist

2022-03-08

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The word “foreclosure” is forever stained in the minds of almost every American who lived through the great recession. News stories in 2010 would talk about the slew of families that had been foreclosed on, with big banks taking back property from a significant number of former homeowners. Fast forward twelve years and many real estate investing fortunes have been made on the backs of foreclosure sales. Is this chance coming back once again in 2022?Joined with us today for this month’s BiggerNews is the David Green...

The word “foreclosure” is forever stained in the minds of almost every American who lived through the great recession. News stories in 2010 would talk about the slew of families that had been foreclosed on, with big banks taking back property from a significant number of former homeowners. Fast forward twelve years and many real estate investing fortunes have been made on the backs of foreclosure sales. Is this chance coming back once again in 2022?

Joined with us today for this month’s BiggerNews is the David Greene and Dave Meyer duo plus special guest, Daren Blomquist, VP of Market Economics at Auction.com. Daren knows the foreclosure market inside and out, spending his days studying and analyzing housing market data. With the newest “surge” in foreclosures, Daren is here to quell the mind of investors who are either hoping for (or dreading) another foreclosure crisis.

Back in early 2020, the US government imposed a foreclosure moratorium and a nationwide forbearance program, allowing citizens to hang on to their homes a little longer. As the economy shifts back into gear, and the moratorium ending, will we see a surge in foreclosures? Or, has price appreciation gifted so many homeowners with equity that foreclosures aren’t even on the horizon? Whatever the answer is, Daren can help you, the investor, plan for your next money-making move.

In This Episode We Cover:

Announcing who the new BiggerPockets Podcast host is!

The mass migration of homebuyers out of their local metros and into new surroundings

Zillow’s newest “SuperApp” that plans to replace realtors

How the 2010 foreclosure crisis compares to today and what would bring a new wave of foreclosures

Why foreclosures are up a whopping 97% as we head into 2022

Investing in foreclosures and how to score deals before they hit the market

And So Much More!

Links from the Show

BiggerPockets Forums

BiggerPockets Youtube Channel

BiggerPockets Real Estate Podcast on Apple Podcast