580: BiggerNews March: How a Surge of Foreclosures Will Impact the Housing Market w/Auction.com’s Daren Blomquist
BiggerPockets Real Estate Podcast
BiggerPockets
4.8 • 16.5K Ratings
🗓️ 8 March 2022
⏱️ 66 minutes
🧾️ Download transcript
Summary
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 Real Estate Podcast on Apple Podcast
Quickly find a local, investor-friendly real estate agent who can help you find, analyze, and close your next deal using the Agent Finder
BiggerPockets Podcast 353: Turning $5K Into $5K/Month and Retiring at 40 with Tim Rhode
Check the full show notes here: https://www.biggerpockets.com/blog/real-estate-580
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Transcript
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| 0:00.0 | This is the bigger pocket spot. |
| 0:01.6 | Yes, show 580 for closures are actually providing a almost a refurbishing of housing inventory. |
| 0:11.5 | And again, it's a small piece. |
| 0:12.6 | It's not going to solve the affordable housing issues that we have or the housing supply |
| 0:17.8 | issues completely, but it's once piece of the puzzle that is taking these properties |
| 0:22.3 | and putting it back into the market. |
| 0:30.7 | What's going on everyone? |
| 0:31.7 | It's David Green, your host of the bigger pockets podcast here today with my amazing, awesome |
| 0:36.1 | and fun co-host Dave Meyer. |
| 0:38.8 | If you are here because you want to find financial freedom through real estate, you, my |
| 0:42.1 | friend, are in the right place. |
| 0:44.7 | Bigger pockets is a community of over 2 million members that are all on the same journey |
| 0:49.0 | as you. |
| 0:50.0 | And improve their lives, get back freedom to live life the way that they would like |
| 0:53.6 | and build wealth through real estate. |
| 0:56.0 | We help you by bringing on stories of other people that have done the same thing, people |
| 1:00.4 | that are experts in the areas of real estate investing that would benefit you, people that |
| 1:04.3 | made mistakes so that you can avoid them. |
| 1:06.4 | And guess like today where we have Darren Blomquist, a VP of marketing and economics for auction.com |
| 1:13.2 | who is a foreclosure expert. |
| 1:15.2 | So Darren spends the majority of his day looking at data of how many foreclosures are hitting |
| 1:19.8 | the market and then trying to connect buyers of those foreclosures with the inventory |
... |
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