It’s scary from a consumer perspective that 2010 marked a record in number of foreclosures, and yet, due to the robosigning fiasco delaying up to 250,000 of foreclosures nationwide at the end of the year, we still managed to break the record. For those hoping for a speedier fix — rip the BandAid off quickly versus slow and painful — don’t fret, foreclosures in 2011 will be likely be another record outpacing 2010.
[video]
I don’t have a working crystal ball, but it makes some sense (in my opinion) that if you’re a real estate investor or vulture investor sitting on the sidelines, that dipping a toe back into the market when the market is flooded with foreclosures (usually considered the best way to get a discount on current market prices) might be an idea worth thinking about sometime in 2011.