According to the office of the Comptroller of the Currency, foreclosures were cut in half from last year. Also Redfin reports that we are seeing more homes being flipped for higher profits than ever before. In 11 of the markets the average gain was well over $100,000 with San Francisco near 200,000.
And now for something completely different: The term “Hat trick” was first used in 1858 in Cricket. It was used to describe H.H. Stephenson’s feat of taking 3 wickets with 3 consecutive deliveries. A collection was held for him which paid for the hat that was presented to him.
For more information on a home purchase, refinance, or a reverse mortgage, visit our website at www.ARAMCO.Biz or call me at (877) 700-0942.
This is Mehran Aram with today's ARAMCO Report.