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this is great information and and thank you for sharing these data points with us and that you definitely see a a large uptick in notice of defaults since even pre pandemic so I I do you understand what you're saying here yeah another way to look at it hey we're it's not just making up for 2020 and 2021 when you have that dip and then the increase you can see 2015 through 2019 those numbers are pretty similar to 2022 through 2024 so we're not just returning to normal and making up for for lost time we're we're beyond that definitely trend worthy and again any investor who's gonna say they're an investor needs to be using foreclosure.com to be tracking this stuff welcome back everyone I'm Tim Jones the affiliate manager at foreclosure.com Today we're taking a closer look inside the Foreclosure Funnel a step by step guide to understand what's really going on in today's market foreclosures are rising again especially across Southern California but how much of this is a real warning and how much is just the market returning to normal after years of artificial lows to help us break it down I'm joined by Christian Walsh a licensed real estate broker an educator and one of our most trusted voices in the Southern California housing market Christian it's great to have you back my friend Tim that was a great opening and I appreciate the kind words my friend that was very nice thank you well we're excited to dive into today's topic and I'd I'd love for you to share um the foreclosure funnel you put together cause I really think it helps articulate all the different stages um that people could potentially go through I appreciate that yeah and I'm a visual person so for me I'm always thinking like charts and graphs and things like that and I put that content out so this I thought was a great way to demonstrate what it looks like so let's get that up here and we will roll through so I created this I called the Foreclosure Funnel it's a great visual way to demonstrate what the heck is going on with distressed properties and it's the full spectrum Tim cause it's easy to forget that it's not just the end it's not just that Rio property shooting out the other side there's an entire spectrum going all the way back to the people who are going to miss a payment so that's the top of the funnel the biggest part are people out there right now that none of us know are going to miss a payment they may not even know yet because something can come up in life where suddenly there's a job loss suddenly the car needs to be fixed there's somebody goes through a serious health issue those things happen and suddenly they can't afford a mortgage payment plus property taxes HOA dues insurance goes up it makes everything hard to afford so there's a big group out there that's gonna miss a payment no easy way again they may not even know no easy way to track those numbers then we get into the next group and those that's the obvious group is the ones who've missed a payment and that's what starts the entire foreclosure process in the state of California we are a non judicial foreclosure state so you don't have to go in front of a judge uh takes 120 days after payments missed for notice of default to be filed then 90 days later the notice of trustee sale can be filed and then 21 days later we can actually have the sale that's in the fastest world but typically and nationally you'll see it too it takes around uh 600 to 900 days to execute this process so it's a slow slow process so once a payment's missed then the ball starts rolling the clock starts ticking and that's when we can get into the notice of default the missed payment so in California right now about 2% of mortgages have missed a payment and again no easy way to know this group can't necessarily look at foreclosure.com and track this one way to use foreclosure.com for this would be to look at people who have a bankruptcy filed cause they'd fall into this group potentially cause you guys have that data and then maybe it's been a while and their property tax payments have are behind so there's a tax sale and again you guys have that data so that's possible way to track the missed a payment group but the notice of default group that next level that's where it's finally public knowledge in the state of California that somebody's not paying their mortgage and that's where I get my foreclosure.com email in fact not only am I a paid subscriber but I still have like your free uh notify me thing going for my zip code so I still get the free notice in addition to the paid notice as well so yeah that's it's handy and it reminds you it's like hey these can happen at any point in time and the properties you guys are tracking all the property types so it could be a condo it could be a gas station an office building like it's it's all the data is there it's very helpful too a lot of people don't realize once you have a paid membership you can really break down that search criteria and saved um very detailed search searches you know so if you're looking in a specific zip code for a specific listing or property type for a specific price point bed and bath uh all that information can be put into an alert and then you can if there's nothing in your area at that time we can at least alert you when something does hit the database so thank you no and that's and that's that's where you can then put an action plan into place whatever your action plan may be and I I I just released another market update video on foreclosures in Southern California and I always say this like look if you consider yourself a real estate investor you can spring for foreclosure.com but at the end of the day even if you're too cheap for that I just talked about this in my video sign up for the darn free zip code awareness email that you guys send out but yeah it's a powerful tool to be able to figure out exactly what you wanna track and as soon as that notice of default filed you're going to get a ping from foreclosure.com then your next ping will be when it goes to the notice of trustee sale so that's where things are starting to get more serious it's further into the foreclosure funnel and it's getting closer to that actual auction again still could be 600 days out but we're seeing more properties and and I have statistics we can run through those uh later if you want Tim but basically we saw an increase in the notice of defaults those were going up and for about six months or a year it wasn't trickling into that next phase the notice of trustee sale but now we're seeing that so we see increase in the first phase and now we're seeing an increase in the second phase so what does that mean that means there's gonna be an increase in the third phase which is actually the trustee sale itself we're gonna start to see more properties actually getting to that the courthouse steps for the auction now is it a huge flood like the global financial crisis where in for example in LA uh reo properties you have 16 properties in a month going back to the bank no we're not there it's around 20 to 25 but that doesn't mean there's not opportunity for a prudent investor to use foreclosure.com and come up with a plan to actually track this stuff so trustee sale actually happens at the courthouse steps and here's a unique thing to California so after the trustee sale most most states that use the trustee sale it the auction's over and before SB 1079 once the auction was over that was it whoever paid the most got the property that could be a third party could be somebody who was living there or it goes back to the bank back to the Benny we say SP 1079 turned everything on its head so what that means is after foreclosure after that actual auction takes place there's a chance for eligible bidders to bid on that property so there's another 45 days after the auction completely change the process third party investors this really changed things because they'd go to the auction bring their big bag of cash their cashier's checks they'd buy the property and then 45 days later somebody else stole it from them that was their opinion stole it but that was the process the eligible bidders are the tenant who's living in the property they had take super priority the next uh biggest group would be somebody who's gonna move into the property so an owner occupant then there's a bunch of others like uh housing trusts and things like that what the goal was is to get more people into uh homes yeah it's not set up for investors like there aren't theoretically aren't third party investors there that's very interesting yeah that seems like a good safety net to have for yeah but it's it completely changed process so that's so after that so the properties that get through the SB 1079 process some still go back to the bank and then the banks have a First Look program in California where once it's listed uh with the first 30 days a an owner occupant takes priority over investors and then the part of these are being purchased by third party investors that come in and they'll go ahead and get the occupants out and fix them up and flip them so there's the entire foreclosure funnel so the SB 1079 well so let's back up so you can use foreclosure.com anywhere from notice of default on you can be tracking the properties yeah so that's where foreclosure.com is a great tool and again as an investor figure out where you wanna focus in this funnel even the people who are going to miss a payment or missed a payment and there's no notice of default you can have messaging in your marketing to attract those folks um and then obviously once there's public awareness through the notice of default notice trustee sale etcetera then you can have different messaging those people are easier to target so anyway yeah no that makes perfect sense reaching out with them with the potential solution before they get into you know the the later in the stage that's it that's it at the end of the day you want it to be a win win so you can help them out here's the big difference too Tim global financial crisis you remember there was no equity anywhere nobody had equity so that's why we had so many properties going all the way through this entire process to becoming bank owned we had short sales as well yeah so the the market if you were out buying properties which there still were a lot of buyers there still multiple offers back then so you had your choice of standard sales short sales and REO properties or you could go to trustee sales and try to buy there so you had a lot of inventory to choose from back in those days uh because everything was going through the process there was no equity today people have equity so those who are going to miss a payment or have missed a payment for the most part most of them have equity unless they got took their loan out in 2022 or later but that's a whole other discussion so long story short mutually beneficial where you can come in as an investor help them unlock their equity get out from underneath an asset that they can no longer afford and you end up getting a deal on something that you can rent out flip whatever you wanna do so no that's that's terrific information I appreciate that and um I'm sure that's very helpful for anyone that's watching um I I know you got some updated September numbers you think you can run by some of the Southern California data just so we can kind of see you know as a visual learner myself I'd love to see what's really going on down there alright so Tim you're a visual learner like me this is what I go through in my uh Southern California market updates for the general housing market and the foreclosure market starting with notices of default like we've discussed that's the first stage in the state of California then it moves to the trustee sale then it moves to the actual sale itself so just looking at this high level what do you see Tim no knowing that on the the right side of the screen is 2025 we see what a huge increase yeah big big increase especially since you know the lows in 2021 really good eye good eye so I've got it broken down by the different Southern California counties LA is the biggest so that's why we just use that number at the top for reference but exactly so 2020 and 2021 what happened well we had the forbearance programs for mortgages and a foreclosure moratorium so between the two of those we didn't have as many properties getting a notice of default there still were notice of default filed but just not as many other important thing to see here well look at 2015 16 pre pandemic any given market we are going to have foreclosures there's always people no matter what's going on with the economy people are going into the foreclosure process now this gives us some perspective we bring in a global financial crisis here like 2011 notices of default were higher then than they are now now what's interesting so 2011 we're kind of capped on how far we can go back and what years we can pull so I just have continued to use 2011 for reference at this point in time in the uh global financial crisis in the market actually we didn't have as many notices of default filed banks were working harder to do short sales and deed in lieu of foreclosure where people would just send in their deed literally so it was a different time so notices of default had actually slowed down next phase notice the trustee sale we can see here so this is the second phase so first phase we saw an increase in 2025 now we're seeing an increase in 2025 for the second phase of the foreclosure process so you can see there's an increase there's only one county that had a decrease and sometimes these numbers are off slightly again 2020 2021 we have a drop in the properties that were going through the notice of trustee sale 2015 so if you look at the high level we had more notices of trustee sale going out in 2015 then we have in 2025 so even though 2012 spring of 2012 is when the market turned and we started to come out of the global financial crisis in the real estate world it still took a while to work through the extreme numbers of properties that we had that were upside down and you can see so while I said we were we didn't have as many notices of default filed we still had a lot of notices of trustee sale filed in 2011 so that's a definitely gives you perspective yeah moving to the last phase real estate owned so these are the properties that actually go back to the bank and we're looking back to 2020 that dip that we see into 2021 that's a direct result of the foreclosure moratorium the it's gone up we can see LA got up to 25 and then it dipped for this year so this is year over year numbers these aren't huge numbers here's more normal numbers in pre pandemic years so there's still you can say anywhere from 50 to 100 properties that go back to the bank in a normal year now bear in mind not every property goes back to the bank not every property that gets a notice of default makes it all the way through to this because the notice of default people have the option to go ahead and work with the bank uh they also have the option to sell the property they have equity today unlike the global financial crisis the other thing that happens at the auction is a third party can buy it and then we have the SB 1079 process where the renter who lives there or an owner occupant can buy it after the auction process so there's been a decrease in real estate owned inventory because of all those things but again you're gonna have it in any given market it's not gonna be zero how about this for for context Tim yeah 16 real estate owned 16 bank owned properties 2011 September in LA I mean in LA right now and in a given month cause sales are way down we may sell only 5 or 6 thousand properties in the entire month wow right now I mean if you had that many properties coming to the market today the market would be decimated we don't have enough demand wow so crazy context and perspective yeah and to get to those levels it's not gonna be a surprise to him like it's not like all of a sudden we're gonna have 16 REOs we'd have to have 5,000 notices of default 3,000 notices of trustee sale so and we're not we're not at those levels we're not there yeah yeah so are you seeing this was still in the safe zone or you seeing some early warning signs of stress so going back to that's a great question I like that safe zone so going back to notices of default so let's say 2015 to 2019 is our baseline our safe zone for notices of default that's our baseline that's gonna happen in any given market we're above that we're almost double that yeah four notices of default for the first phase so is this is this a uh all hands on deck the Titanic's going down no but this is hey opportunity for buyers and investors who wanna continue to track the market we're going to see more properties start to get to that REO phase get to the auction but this is opportunity right here like these people again I can't be labor this point enough a lot of these people have equity now against that we have right now uh half of the loans that are non current are FHA loans and the majority of those FHA loans that are non current unfortunately were issued 2022 or later so those folks don't have equity so there still is a group in here that doesn't have equity but they're not upside down hundreds of thousands of dollars they could still sell if they needed to and this is where the opportunity is today back in the global financial crisis it was basically go to trustee sale you could you could get some smoking deals on short sales but now you gotta go after these folks that are behind on payments and figure out a solution that will be mutually beneficial no this this is great information and and thank you for sharing um these data points with us and that you definitely see a a large uptake and notice of defaults since even pre pandemic so I I do understand what you're saying here yeah and another way to look at it hey we're it's not just making up for 2020 and 2021 when you have that dip and then the increase you can see 2015 through 2019 those numbers are pretty similar to 2022 through 2024 so we're not just returning to normal and making up for for lost time we're we're beyond that so this is definitely trend worthy and again any investor who's gonna say they're an investor needs to be using foreclosure.com to be tracking this stuff so this is really interesting point um FHA FHA loans seem to be hit the hardest right now what do you what do you think behind that so FHA loans and what's what's tougher for an FHA buyer uh it's a great program don't get me wrong it's not insolvent we're nowhere near insolvency there's plenty of funds in there to keep things rolling and it's a great program the FHA loan is gonna be a low down payment loan three and a half percent uh get you in the door and you can have a higher debt to income ratio so in other words add up all your debt your car payment uh the house payment for the house that you're applying for and any credit card debt in certain cases you can go up to a 50% debt to income ratio what that does is it opens the door for folks who don't fit into the 20% down easy checkmark GSE type loan this is a special program so unfortunately what happens when you're putting that low down payment down you don't have any cushion in the event that you want to build equity and need to sell the property then the other side of it that debt to income ratio when you have life happen and the car breaks down somebody gets very sick yeah parents like a a lot of folks right now in our age Tim and I'm a little older than you you're starting to get sandwiched where you're helping your kids and at the same time you're helping your parents I know you're you've been helping your dad you're a good son so but when life happens and the debt to income ratio is high there isn't much wiggle room to make the payments so that's part of what we're seeing with FHA loans and it's hard to call to paint a broad brush but I that's definitely what's driving it we've seen costs go up insurance is going up um that doesn't help so we're seeing half of the folks who are missing payments right now on their mortgages are FHA loans and again the majority of those are have been issued since 2022 which means they don't have much in the way of equity if any so it's a tough spot to be in and that's also gonna be a certain price segment like you don't use a FHA loan on a five million dollar house it's gonna be a million or under typically now I know the loan limits go higher but we're just gonna say it's around that million or under so yeah and a million in California is what like 400,000 yeah yeah that's a good way to put it so the the median home home price in Orange County for a single family home is around 1 2 to 1 3 wow so that's the median so you're you're hard pressed to find a just a a dinky single family home for for less than a million in Orange County so that gives you perspective it does and that's the other side of it affordability has been so tight that those FHA loans people have really been stretching to get into a home no that makes perfect I mean affordability pressures all across the country but I I you know I think with low income home owners in Southern California the pressure is even a little bit more just and there's one more layer to it Tim that is the mortgage forbearance programs that were out there that were set up during Covid the VA loan programs had special protections those actually expired at the end of uh April in 2025 and then the special FHA loan protections those expired at the end of September 2025 wow well you see in my notices of default data this is September 1st through September 30th so this 2025 data right here does not include the fallout yet wow of those FHA programs ending so that's why it's important track the rest of Q4 2025 and then Q1 2026 that's really when we'll start to see any of the fallout from those that no longer qualify for special programs um so another important piece of context no well thank you so much for sharing your screen I think I think that's good for the audience for right now you still awake over there I know I'm throwing a lot of data no it's a lot of great information and I definitely I'm still awake you know hopefully our audience is as well but um no it's that's you brought up some great points there going back to your initial funnel seeing the top of the funnel of mispayment or getting ready to miss a payment you start to understand how big that potentially could be right just even the fact that the nod's don't include those new FHA loans that are no longer protected by the moratoriums at least from my perspective seems like California next month the next two months could have some some more headaches as far as yeah now it's not gonna show market it won't show up immediately there's still gonna be there's gonna be a lag because the process that hundred and twenty day uh notice of default process it's not 120 days especially for FHA loans that it goes much longer there's still certain things that the servicers have to do which that takes time but we will start to see that it's gonna start to show up in the numbers and it's it's just it's not the it isn't scary I mean other than I know it's gonna be tough for those folks who are going through this I'm not making light of that it's not global financial crisis scary but it's gonna be significant and unfortunate uh for a lot of folks out there and that's why I keep talking about mutually beneficial this isn't time to be a shark and go after people and try to take advantage of them which quite frankly I saw a lot of that in the global financial crisis I was a brand new agent back then some of this crazy stuff I saw but not that time come up with a solution that's gonna work for both sides and that's that's what's gonna lead us out of this and get us back to normal I mean that's a great point and kind of seg good Segway into my next question which is what kind of early intervention can an investor or home buyer um you know bring to the table um I know you talked about short sales earlier um there has been a large equity build up over the last you know since the pandemic but at what stage would that intervention be appropriate for an investor to start talking about short sales or early intervention great question so what's great today is the access to tools for closure.com being one of those tools other tools out there it's much easier to tell today exactly what the position that a homeowner is in whether they actually have equity and that would be simply looking at the loan balance and the projected market value and seeing what that cushion is and initially for those that have a cushion part of what an investor can do is and it's gonna sound counter intuitive and some investors are gonna say no I'm never gonna do this but in your messaging let people know what that cushion looks like let them know they have equity and again I know some investors are gonna say no I want the lowest possible price but whatever you the use use the numbers how you see fit but a lot of people still still don't realize that how much equity they have and that's that could be like they're not sleeping at night they can't make their payments but if you show up and you say hey look you guys have equity we have a way to help you uh cash that money in go to the ATM and get that equity uh people are gonna be able to sleep and they're gonna uh definitely it could be a positive path for them to take I know people and we saw this during the global financial crisis people will throw good money after bad things and that means many different things but what I'm specifically referencing is they're gonna lose their house yeah they don't have a job they don't have anything they can do to keep the house but they're still borrowing from friends and family and any credit cards to make a payment on something that they cannot afford anymore yeah that's good money going after that yeah so what you wanna do is share that message hey let's get you out of this let's get you out from underneath this while you still have as much equity as possible and you're not you haven't racked up a bunch of debt on credit cards and borrowed money from family and friends so anyway I saw it it brings back memories of what happened during the global financial crisis and it's upsetting I can imagine I can imagine I think your philosophy of being the solution seems like the best way to help everybody on the table right at the table right yeah helping them get out of a tricky situation being transparent letting them know that if you act now that you can get out of a tricky situation rather than sticking your head in the dirt and just pretending like everything's gonna go away and that's a good analogy about you know um about utilizing the funds appropriately and not just putting what is it bad money towards you know it's good money yeah good money good money towards the situation you can't solve bad situation like yeah yeah stop it stop doing that and I saw that I I I not to go into examples but one guy was a postal worker nicest guy in the world and he was doing that same thing like back then he had 100% financing he had a pick a pay loan which meant that he was basically making the smallest payment possible when he could make a payment so his it was negative amortizing so it's going up in value and he's borrowing off a credit cards to pay for that it's like there's nothing there dude yeah go yeah and I know it's tough you your kids are happy in their bedrooms they're happy at the school and things need to happen like the more you can help people understand you've got a problem and here's the path to the solution and it may be doing things like hey here's a rental over here that will keep the kids in the school district get your payment down it's from this 15,000 a month to 5,000 a month like yeah yeah yeah solutions yeah so I go deep on this sorry I like it no this is great now so so interesting like what was it a couple years ago it seemed like every investor was just racing towards any distressed property that was out there they could find but over the last couple years it seems like investor sentiment has slowed down across the country I don't know if that's similar in California um hmm that's a good good point here's the thing investor is a word that's used loosely and so as a listing agent uh cause I sell my sub specialty is tenant occupied properties and I sell a lot of tenant occupied properties that have been inherited by family members and they need a ton of work rents are super low uh very difficult to sell these are not easy easy things to sell but it's what I do I get going back to solutions so what do I look for as a listing agent and there's a point to this I look as a listing agent I wanna find either the person who understands fully the problem knows how to deal with renters knows how to deal with all the the issues there and can put an accurate number on it or I'd like to find the investor who doesn't know what the heck they're doing I'm not gonna represent them I will not double in the property they need to be represented by someone else but I want the investor who doesn't know what they're doing because they'll go come in and pay the most for a property so I know a little cynical but that's this is a business the point being so professional investors people really understand a lot of them are like I don't get this market like what people are paying for properties well it's because the rookies come in and bid it up so until we I think that flex in the market is a mixture of professional investors saying OK this is a little crazy I'm gonna slow down and then you gotta get to the point where the rookie investors have all lost their money and they start to slow down so again I know that's a cynical outlook I apologize no no it's interesting no I so so what what um signals do you see in the market or what signals could be in the market that kind of let seasoned or new investors say now is the time to pounce right yeah I think the your seasoned investors once they see days on market start to go up that's when they say okay now is the time to go out and write offers so days on market that shows that things are slowing and we've been seeing that seasonally days on market increase as we get later in the year but in addition to that and there's an extra layer because interest rates have been as high as as long as they have prices have gone up so days on market are increasing so buyers are getting deals and it's not just investors but it's actually people out there writing offers um so yeah I think I think there's that signal in the market and then if you you can't time the market ever but if you want to attempt to time it you do you write offers when days on market has gone up and interest rates are high and it looks like there's a possibility that interest rates may drop don't wait until interest rates have dropped you can actually float your rate down in many cases in escrow so even the 30 day escrow process you can get your mortgage rate to drop but the minute rates drop to five and a/2 guess what all the people are gonna be out there writing offers again like you gotta be writing offers before it gets to five and a/2 in fact when it gets to five and a/2 or low fives or even 4 again you could argue that the professional investors may need to disappear unless we get a bunch of inventory so anyway does that help yeah that does help I I think I'm gonna be sending some people your way they might have some more questions for that so I know I know look it's a contrarian perspective but it's all it's more in buffet like be greedy when others are fearful and be fearful when others are greedy like yeah that's the foundation of it well so yeah it doesn't seem like we're quite there yet but it does seem like we need to be have those processes and those systems in place so that yes when they it does hit you're ready to act right whether you're very well versed or home buyer trying to find a good opportunity either way it seems like you have to have your ducks in a row before you can play the game haha yeah no very well said and that's it that's why people a lot of first time home buyers will ask about is it too early to be pre approved for a loan and I tell them like never too early get those ducks in a row be ready and then you can get the other ducks in a row so it's never too early to get ready uh for what's coming but you gotta be getting ready and then be tracking and and then actually pull the trigger when it when it's time was great information um we definitely are diving deep I you know I know no one has a crystal ball but as we look ahead we're getting close to 2026 you know what do you think is gonna happen what what kind of key indicators are you watching um to tell whether the market is stabilizing or if we're heading into maybe a deeper correction I hate to put you on that spot but I no I do respect your perspective and I'd love to understand what what you're seeing what you I appreciate that Tim yeah the shortest answer is nobody knows anything and they never have but especially right now yeah like nobody can predict what's gonna happen and it's even tougher now nobody knows when interest rates are gonna drop nobody knows what's gonna happen with inventory uh I mean heck we don't even know what tariffs are gonna be on when we wake up in the morning like yeah it's there's so much uncertainty but uncertainty is your friend when you're a buyer it's not your friend when you're a seller so um no I I think so 2026 continue to live with the uncertainty put your blinders on a little bit I and then look at data like that's why I do my my monthly updates the monthly updates are looking at the month before so it is slightly a lag it's a lagging indicator when you look back a month but pending sales that's telling us about what's coming for the the housing market so keep track in pending sales track mortgage applications cause that's another leading indicator if you see more people writing or applying for mortgages that means hey there's more competition out there so keep looking at your leading indicators have some realistic blinders on and pull the trigger like make a decision and don't look at Redfin after you buy a house and don't look at Redfin or Zillow after you sell your house cause I did I sold my house earlier in the year and then it's telling me I left 300 400 500,000 on the table I didn't I know that yeah yeah but yeah just make the decision go yeah that's and when you make you gotta give yourself Grace you gotta say look hey I made the best decision I could at the time so in 10 years you're either a genius or an idiot give yourself Grace for that that person 10 years ago yeah yeah no don't look right away and think yeah no I yeah that's some great advice I'm sure a lot of people are married to looking at their Zillow Zest uh and I don't I get it you know it's not right it's not right it's either too high or too low so just ignore it um but yeah that's so 2026 prediction is it's just gonna be a whole lot more uncertainty and there's always opportunity and uncertainty because the same uncertainty that you're swirling around in other sellers are swirling in that and other buyers are swirling in that so you gotta be the person who's gonna figure out a way to swim to the top look around make a decision and go just keep swimming that's it that's it Dory said it best you got young kids so you've watched it oh yeah way too many Disney movies these days it's it's getting a little I think I'm losing it I'm going a little cuckoo but Christian always appreciate your insights especially when you back it up with some real data so I appreciate you bringing those to the table today and I look forward to our next you know time together um for everyone that's still watching please like this video and subscribe to our channel it definitely helps our the YouTube algorithm show more people that might be interested in this type of content um if you want to explore foreclosure listings in your area don't forget to sign up for our free foreclosure alerts at foreclosure.com that way you can get you know the notice of defaults or REO properties or all the different listing types um you can also do your zip code your county your city so wherever you're interested in looking at um it's a pretty easy process it takes less than 10 seconds to get it done so until next time I'm Tim Jones and thanks for tuning in have a good one
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this is great information and and thank you for sharing these data points with us and that you definitely see a a large uptick in notice of defaults since even pre pandemic so I I do you understand what you're saying here yeah another way to look at it hey we're it's not just making up for 2020 and 2021 when you have that dip and then the increase you can see 2015 through 2019 those numbers are pretty similar to 2022 through 2024 so we're not just returning to normal and making up for for lost time we're we're beyond that definitely trend worthy and again any investor who's gonna say they're an investor needs to be using foreclosure.com to be tracking this stuff welcome back everyone I'm Tim Jones the affiliate manager at foreclosure.com Today we're taking a closer look inside the Foreclosure Funnel a step by step guide to understand what's really going on in today's market foreclosures are rising again especially across Southern California but how much of this is a real warning and how much is just the market returning to normal after years of artificial lows to help us break it down I'm joined by Christian Walsh a licensed real estate broker an educator and one of our most trusted voices in the Southern California housing market Christian it's great to have you back my friend Tim that was a great opening and I appreciate the kind words my friend that was very nice thank you well we're excited to dive into today's topic and I'd I'd love for you to share um the foreclosure funnel you put together cause I really think it helps articulate all the different stages um that people could potentially go through I appreciate that yeah and I'm a visual person so for me I'm always thinking like charts and graphs and things like that and I put that content out so this I thought was a great way to demonstrate what it looks like so let's get that up here and we will roll through so I created this I called the Foreclosure Funnel it's a great visual way to demonstrate what the heck is going on with distressed properties and it's the full spectrum Tim cause it's easy to forget that it's not just the end it's not just that Rio property shooting out the other side there's an entire spectrum going all the way back to the people who are going to miss a payment so that's the top of the funnel the biggest part are people out there right now that none of us know are going to miss a payment they may not even know yet because something can come up in life where suddenly there's a job loss suddenly the car needs to be fixed there's somebody goes through a serious health issue those things happen and suddenly they can't afford a mortgage payment plus property taxes HOA dues insurance goes up it makes everything hard to afford so there's a big group out there that's gonna miss a payment no easy way again they may not even know no easy way to track those numbers then we get into the next group and those that's the obvious group is the ones who've missed a payment and that's what starts the entire foreclosure process in the state of California we are a non judicial foreclosure state so you don't have to go in front of a judge uh takes 120 days after payments missed for notice of default to be filed then 90 days later the notice of trustee sale can be filed and then 21 days later we can actually have the sale that's in the fastest world but typically and nationally you'll see it too it takes around uh 600 to 900 days to execute this process so it's a slow slow process so once a payment's missed then the ball starts rolling the clock starts ticking and that's when we can get into the notice of default the missed payment so in California right now about 2% of mortgages have missed a payment and again no easy way to know this group can't necessarily look at foreclosure.com and track this one way to use foreclosure.com for this would be to look at people who have a bankruptcy filed cause they'd fall into this group potentially cause you guys have that data and then maybe it's been a while and their property tax payments have are behind so there's a tax sale and again you guys have that data so that's possible way to track the missed a payment group but the notice of default group that next level that's where it's finally public knowledge in the state of California that somebody's not paying their mortgage and that's where I get my foreclosure.com email in fact not only am I a paid subscriber but I still have like your free uh notify me thing going for my zip code so I still get the free notice in addition to the paid notice as well so yeah that's it's handy and it reminds you it's like hey these can happen at any point in time and the properties you guys are tracking all the property types so it could be a condo it could be a gas station an office building like it's it's all the data is there it's very helpful too a lot of people don't realize once you have a paid membership you can really break down that search criteria and saved um very detailed search searches you know so if you're looking in a specific zip code for a specific listing or property type for a specific price point bed and bath uh all that information can be put into an alert and then you can if there's nothing in your area at that time we can at least alert you when something does hit the database so thank you no and that's and that's that's where you can then put an action plan into place whatever your action plan may be and I I I just released another market update video on foreclosures in Southern California and I always say this like look if you consider yourself a real estate investor you can spring for foreclosure.com but at the end of the day even if you're too cheap for that I just talked about this in my video sign up for the darn free zip code awareness email that you guys send out but yeah it's a powerful tool to be able to figure out exactly what you wanna track and as soon as that notice of default filed you're going to get a ping from foreclosure.com then your next ping will be when it goes to the notice of trustee sale so that's where things are starting to get more serious it's further into the foreclosure funnel and it's getting closer to that actual auction again still could be 600 days out but we're seeing more properties and and I have statistics we can run through those uh later if you want Tim but basically we saw an increase in the notice of defaults those were going up and for about six months or a year it wasn't trickling into that next phase the notice of trustee sale but now we're seeing that so we see increase in the first phase and now we're seeing an increase in the second phase so what does that mean that means there's gonna be an increase in the third phase which is actually the trustee sale itself we're gonna start to see more properties actually getting to that the courthouse steps for the auction now is it a huge flood like the global financial crisis where in for example in LA uh reo properties you have 16 properties in a month going back to the bank no we're not there it's around 20 to 25 but that doesn't mean there's not opportunity for a prudent investor to use foreclosure.com and come up with a plan to actually track this stuff so trustee sale actually happens at the courthouse steps and here's a unique thing to California so after the trustee sale most most states that use the trustee sale it the auction's over and before SB 1079 once the auction was over that was it whoever paid the most got the property that could be a third party could be somebody who was living there or it goes back to the bank back to the Benny we say SP 1079 turned everything on its head so what that means is after foreclosure after that actual auction takes place there's a chance for eligible bidders to bid on that property so there's another 45 days after the auction completely change the process third party investors this really changed things because they'd go to the auction bring their big bag of cash their cashier's checks they'd buy the property and then 45 days later somebody else stole it from them that was their opinion stole it but that was the process the eligible bidders are the tenant who's living in the property they had take super priority the next uh biggest group would be somebody who's gonna move into the property so an owner occupant then there's a bunch of others like uh housing trusts and things like that what the goal was is to get more people into uh homes yeah it's not set up for investors like there aren't theoretically aren't third party investors there that's very interesting yeah that seems like a good safety net to have for yeah but it's it completely changed process so that's so after that so the properties that get through the SB 1079 process some still go back to the bank and then the banks have a First Look program in California where once it's listed uh with the first 30 days a an owner occupant takes priority over investors and then the part of these are being purchased by third party investors that come in and they'll go ahead and get the occupants out and fix them up and flip them so there's the entire foreclosure funnel so the SB 1079 well so let's back up so you can use foreclosure.com anywhere from notice of default on you can be tracking the properties yeah so that's where foreclosure.com is a great tool and again as an investor figure out where you wanna focus in this funnel even the people who are going to miss a payment or missed a payment and there's no notice of default you can have messaging in your marketing to attract those folks um and then obviously once there's public awareness through the notice of default notice trustee sale etcetera then you can have different messaging those people are easier to target so anyway yeah no that makes perfect sense reaching out with them with the potential solution before they get into you know the the later in the stage that's it that's it at the end of the day you want it to be a win win so you can help them out here's the big difference too Tim global financial crisis you remember there was no equity anywhere nobody had equity so that's why we had so many properties going all the way through this entire process to becoming bank owned we had short sales as well yeah so the the market if you were out buying properties which there still were a lot of buyers there still multiple offers back then so you had your choice of standard sales short sales and REO properties or you could go to trustee sales and try to buy there so you had a lot of inventory to choose from back in those days uh because everything was going through the process there was no equity today people have equity so those who are going to miss a payment or have missed a payment for the most part most of them have equity unless they got took their loan out in 2022 or later but that's a whole other discussion so long story short mutually beneficial where you can come in as an investor help them unlock their equity get out from underneath an asset that they can no longer afford and you end up getting a deal on something that you can rent out flip whatever you wanna do so no that's that's terrific information I appreciate that and um I'm sure that's very helpful for anyone that's watching um I I know you got some updated September numbers you think you can run by some of the Southern California data just so we can kind of see you know as a visual learner myself I'd love to see what's really going on down there alright so Tim you're a visual learner like me this is what I go through in my uh Southern California market updates for the general housing market and the foreclosure market starting with notices of default like we've discussed that's the first stage in the state of California then it moves to the trustee sale then it moves to the actual sale itself so just looking at this high level what do you see Tim no knowing that on the the right side of the screen is 2025 we see what a huge increase yeah big big increase especially since you know the lows in 2021 really good eye good eye so I've got it broken down by the different Southern California counties LA is the biggest so that's why we just use that number at the top for reference but exactly so 2020 and 2021 what happened well we had the forbearance programs for mortgages and a foreclosure moratorium so between the two of those we didn't have as many properties getting a notice of default there still were notice of default filed but just not as many other important thing to see here well look at 2015 16 pre pandemic any given market we are going to have foreclosures there's always people no matter what's going on with the economy people are going into the foreclosure process now this gives us some perspective we bring in a global financial crisis here like 2011 notices of default were higher then than they are now now what's interesting so 2011 we're kind of capped on how far we can go back and what years we can pull so I just have continued to use 2011 for reference at this point in time in the uh global financial crisis in the market actually we didn't have as many notices of default filed banks were working harder to do short sales and deed in lieu of foreclosure where people would just send in their deed literally so it was a different time so notices of default had actually slowed down next phase notice the trustee sale we can see here so this is the second phase so first phase we saw an increase in 2025 now we're seeing an increase in 2025 for the second phase of the foreclosure process so you can see there's an increase there's only one county that had a decrease and sometimes these numbers are off slightly again 2020 2021 we have a drop in the properties that were going through the notice of trustee sale 2015 so if you look at the high level we had more notices of trustee sale going out in 2015 then we have in 2025 so even though 2012 spring of 2012 is when the market turned and we started to come out of the global financial crisis in the real estate world it still took a while to work through the extreme numbers of properties that we had that were upside down and you can see so while I said we were we didn't have as many notices of default filed we still had a lot of notices of trustee sale filed in 2011 so that's a definitely gives you perspective yeah moving to the last phase real estate owned so these are the properties that actually go back to the bank and we're looking back to 2020 that dip that we see into 2021 that's a direct result of the foreclosure moratorium the it's gone up we can see LA got up to 25 and then it dipped for this year so this is year over year numbers these aren't huge numbers here's more normal numbers in pre pandemic years so there's still you can say anywhere from 50 to 100 properties that go back to the bank in a normal year now bear in mind not every property goes back to the bank not every property that gets a notice of default makes it all the way through to this because the notice of default people have the option to go ahead and work with the bank uh they also have the option to sell the property they have equity today unlike the global financial crisis the other thing that happens at the auction is a third party can buy it and then we have the SB 1079 process where the renter who lives there or an owner occupant can buy it after the auction process so there's been a decrease in real estate owned inventory because of all those things but again you're gonna have it in any given market it's not gonna be zero how about this for for context Tim yeah 16 real estate owned 16 bank owned properties 2011 September in LA I mean in LA right now and in a given month cause sales are way down we may sell only 5 or 6 thousand properties in the entire month wow right now I mean if you had that many properties coming to the market today the market would be decimated we don't have enough demand wow so crazy context and perspective yeah and to get to those levels it's not gonna be a surprise to him like it's not like all of a sudden we're gonna have 16 REOs we'd have to have 5,000 notices of default 3,000 notices of trustee sale so and we're not we're not at those levels we're not there yeah yeah so are you seeing this was still in the safe zone or you seeing some early warning signs of stress so going back to that's a great question I like that safe zone so going back to notices of default so let's say 2015 to 2019 is our baseline our safe zone for notices of default that's our baseline that's gonna happen in any given market we're above that we're almost double that yeah four notices of default for the first phase so is this is this a uh all hands on deck the Titanic's going down no but this is hey opportunity for buyers and investors who wanna continue to track the market we're going to see more properties start to get to that REO phase get to the auction but this is opportunity right here like these people again I can't be labor this point enough a lot of these people have equity now against that we have right now uh half of the loans that are non current are FHA loans and the majority of those FHA loans that are non current unfortunately were issued 2022 or later so those folks don't have equity so there still is a group in here that doesn't have equity but they're not upside down hundreds of thousands of dollars they could still sell if they needed to and this is where the opportunity is today back in the global financial crisis it was basically go to trustee sale you could you could get some smoking deals on short sales but now you gotta go after these folks that are behind on payments and figure out a solution that will be mutually beneficial no this this is great information and and thank you for sharing um these data points with us and that you definitely see a a large uptake and notice of defaults since even pre pandemic so I I do understand what you're saying here yeah and another way to look at it hey we're it's not just making up for 2020 and 2021 when you have that dip and then the increase you can see 2015 through 2019 those numbers are pretty similar to 2022 through 2024 so we're not just returning to normal and making up for for lost time we're we're beyond that so this is definitely trend worthy and again any investor who's gonna say they're an investor needs to be using foreclosure.com to be tracking this stuff so this is really interesting point um FHA FHA loans seem to be hit the hardest right now what do you what do you think behind that so FHA loans and what's what's tougher for an FHA buyer uh it's a great program don't get me wrong it's not insolvent we're nowhere near insolvency there's plenty of funds in there to keep things rolling and it's a great program the FHA loan is gonna be a low down payment loan three and a half percent uh get you in the door and you can have a higher debt to income ratio so in other words add up all your debt your car payment uh the house payment for the house that you're applying for and any credit card debt in certain cases you can go up to a 50% debt to income ratio what that does is it opens the door for folks who don't fit into the 20% down easy checkmark GSE type loan this is a special program so unfortunately what happens when you're putting that low down payment down you don't have any cushion in the event that you want to build equity and need to sell the property then the other side of it that debt to income ratio when you have life happen and the car breaks down somebody gets very sick yeah parents like a a lot of folks right now in our age Tim and I'm a little older than you you're starting to get sandwiched where you're helping your kids and at the same time you're helping your parents I know you're you've been helping your dad you're a good son so but when life happens and the debt to income ratio is high there isn't much wiggle room to make the payments so that's part of what we're seeing with FHA loans and it's hard to call to paint a broad brush but I that's definitely what's driving it we've seen costs go up insurance is going up um that doesn't help so we're seeing half of the folks who are missing payments right now on their mortgages are FHA loans and again the majority of those are have been issued since 2022 which means they don't have much in the way of equity if any so it's a tough spot to be in and that's also gonna be a certain price segment like you don't use a FHA loan on a five million dollar house it's gonna be a million or under typically now I know the loan limits go higher but we're just gonna say it's around that million or under so yeah and a million in California is what like 400,000 yeah yeah that's a good way to put it so the the median home home price in Orange County for a single family home is around 1 2 to 1 3 wow so that's the median so you're you're hard pressed to find a just a a dinky single family home for for less than a million in Orange County so that gives you perspective it does and that's the other side of it affordability has been so tight that those FHA loans people have really been stretching to get into a home no that makes perfect I mean affordability pressures all across the country but I I you know I think with low income home owners in Southern California the pressure is even a little bit more just and there's one more layer to it Tim that is the mortgage forbearance programs that were out there that were set up during Covid the VA loan programs had special protections those actually expired at the end of uh April in 2025 and then the special FHA loan protections those expired at the end of September 2025 wow well you see in my notices of default data this is September 1st through September 30th so this 2025 data right here does not include the fallout yet wow of those FHA programs ending so that's why it's important track the rest of Q4 2025 and then Q1 2026 that's really when we'll start to see any of the fallout from those that no longer qualify for special programs um so another important piece of context no well thank you so much for sharing your screen I think I think that's good for the audience for right now you still awake over there I know I'm throwing a lot of data no it's a lot of great information and I definitely I'm still awake you know hopefully our audience is as well but um no it's that's you brought up some great points there going back to your initial funnel seeing the top of the funnel of mispayment or getting ready to miss a payment you start to understand how big that potentially could be right just even the fact that the nod's don't include those new FHA loans that are no longer protected by the moratoriums at least from my perspective seems like California next month the next two months could have some some more headaches as far as yeah now it's not gonna show market it won't show up immediately there's still gonna be there's gonna be a lag because the process that hundred and twenty day uh notice of default process it's not 120 days especially for FHA loans that it goes much longer there's still certain things that the servicers have to do which that takes time but we will start to see that it's gonna start to show up in the numbers and it's it's just it's not the it isn't scary I mean other than I know it's gonna be tough for those folks who are going through this I'm not making light of that it's not global financial crisis scary but it's gonna be significant and unfortunate uh for a lot of folks out there and that's why I keep talking about mutually beneficial this isn't time to be a shark and go after people and try to take advantage of them which quite frankly I saw a lot of that in the global financial crisis I was a brand new agent back then some of this crazy stuff I saw but not that time come up with a solution that's gonna work for both sides and that's that's what's gonna lead us out of this and get us back to normal I mean that's a great point and kind of seg good Segway into my next question which is what kind of early intervention can an investor or home buyer um you know bring to the table um I know you talked about short sales earlier um there has been a large equity build up over the last you know since the pandemic but at what stage would that intervention be appropriate for an investor to start talking about short sales or early intervention great question so what's great today is the access to tools for closure.com being one of those tools other tools out there it's much easier to tell today exactly what the position that a homeowner is in whether they actually have equity and that would be simply looking at the loan balance and the projected market value and seeing what that cushion is and initially for those that have a cushion part of what an investor can do is and it's gonna sound counter intuitive and some investors are gonna say no I'm never gonna do this but in your messaging let people know what that cushion looks like let them know they have equity and again I know some investors are gonna say no I want the lowest possible price but whatever you the use use the numbers how you see fit but a lot of people still still don't realize that how much equity they have and that's that could be like they're not sleeping at night they can't make their payments but if you show up and you say hey look you guys have equity we have a way to help you uh cash that money in go to the ATM and get that equity uh people are gonna be able to sleep and they're gonna uh definitely it could be a positive path for them to take I know people and we saw this during the global financial crisis people will throw good money after bad things and that means many different things but what I'm specifically referencing is they're gonna lose their house yeah they don't have a job they don't have anything they can do to keep the house but they're still borrowing from friends and family and any credit cards to make a payment on something that they cannot afford anymore yeah that's good money going after that yeah so what you wanna do is share that message hey let's get you out of this let's get you out from underneath this while you still have as much equity as possible and you're not you haven't racked up a bunch of debt on credit cards and borrowed money from family and friends so anyway I saw it it brings back memories of what happened during the global financial crisis and it's upsetting I can imagine I can imagine I think your philosophy of being the solution seems like the best way to help everybody on the table right at the table right yeah helping them get out of a tricky situation being transparent letting them know that if you act now that you can get out of a tricky situation rather than sticking your head in the dirt and just pretending like everything's gonna go away and that's a good analogy about you know um about utilizing the funds appropriately and not just putting what is it bad money towards you know it's good money yeah good money good money towards the situation you can't solve bad situation like yeah yeah stop it stop doing that and I saw that I I I not to go into examples but one guy was a postal worker nicest guy in the world and he was doing that same thing like back then he had 100% financing he had a pick a pay loan which meant that he was basically making the smallest payment possible when he could make a payment so his it was negative amortizing so it's going up in value and he's borrowing off a credit cards to pay for that it's like there's nothing there dude yeah go yeah and I know it's tough you your kids are happy in their bedrooms they're happy at the school and things need to happen like the more you can help people understand you've got a problem and here's the path to the solution and it may be doing things like hey here's a rental over here that will keep the kids in the school district get your payment down it's from this 15,000 a month to 5,000 a month like yeah yeah yeah solutions yeah so I go deep on this sorry I like it no this is great now so so interesting like what was it a couple years ago it seemed like every investor was just racing towards any distressed property that was out there they could find but over the last couple years it seems like investor sentiment has slowed down across the country I don't know if that's similar in California um hmm that's a good good point here's the thing investor is a word that's used loosely and so as a listing agent uh cause I sell my sub specialty is tenant occupied properties and I sell a lot of tenant occupied properties that have been inherited by family members and they need a ton of work rents are super low uh very difficult to sell these are not easy easy things to sell but it's what I do I get going back to solutions so what do I look for as a listing agent and there's a point to this I look as a listing agent I wanna find either the person who understands fully the problem knows how to deal with renters knows how to deal with all the the issues there and can put an accurate number on it or I'd like to find the investor who doesn't know what the heck they're doing I'm not gonna represent them I will not double in the property they need to be represented by someone else but I want the investor who doesn't know what they're doing because they'll go come in and pay the most for a property so I know a little cynical but that's this is a business the point being so professional investors people really understand a lot of them are like I don't get this market like what people are paying for properties well it's because the rookies come in and bid it up so until we I think that flex in the market is a mixture of professional investors saying OK this is a little crazy I'm gonna slow down and then you gotta get to the point where the rookie investors have all lost their money and they start to slow down so again I know that's a cynical outlook I apologize no no it's interesting no I so so what what um signals do you see in the market or what signals could be in the market that kind of let seasoned or new investors say now is the time to pounce right yeah I think the your seasoned investors once they see days on market start to go up that's when they say okay now is the time to go out and write offers so days on market that shows that things are slowing and we've been seeing that seasonally days on market increase as we get later in the year but in addition to that and there's an extra layer because interest rates have been as high as as long as they have prices have gone up so days on market are increasing so buyers are getting deals and it's not just investors but it's actually people out there writing offers um so yeah I think I think there's that signal in the market and then if you you can't time the market ever but if you want to attempt to time it you do you write offers when days on market has gone up and interest rates are high and it looks like there's a possibility that interest rates may drop don't wait until interest rates have dropped you can actually float your rate down in many cases in escrow so even the 30 day escrow process you can get your mortgage rate to drop but the minute rates drop to five and a/2 guess what all the people are gonna be out there writing offers again like you gotta be writing offers before it gets to five and a/2 in fact when it gets to five and a/2 or low fives or even 4 again you could argue that the professional investors may need to disappear unless we get a bunch of inventory so anyway does that help yeah that does help I I think I'm gonna be sending some people your way they might have some more questions for that so I know I know look it's a contrarian perspective but it's all it's more in buffet like be greedy when others are fearful and be fearful when others are greedy like yeah that's the foundation of it well so yeah it doesn't seem like we're quite there yet but it does seem like we need to be have those processes and those systems in place so that yes when they it does hit you're ready to act right whether you're very well versed or home buyer trying to find a good opportunity either way it seems like you have to have your ducks in a row before you can play the game haha yeah no very well said and that's it that's why people a lot of first time home buyers will ask about is it too early to be pre approved for a loan and I tell them like never too early get those ducks in a row be ready and then you can get the other ducks in a row so it's never too early to get ready uh for what's coming but you gotta be getting ready and then be tracking and and then actually pull the trigger when it when it's time was great information um we definitely are diving deep I you know I know no one has a crystal ball but as we look ahead we're getting close to 2026 you know what do you think is gonna happen what what kind of key indicators are you watching um to tell whether the market is stabilizing or if we're heading into maybe a deeper correction I hate to put you on that spot but I no I do respect your perspective and I'd love to understand what what you're seeing what you I appreciate that Tim yeah the shortest answer is nobody knows anything and they never have but especially right now yeah like nobody can predict what's gonna happen and it's even tougher now nobody knows when interest rates are gonna drop nobody knows what's gonna happen with inventory uh I mean heck we don't even know what tariffs are gonna be on when we wake up in the morning like yeah it's there's so much uncertainty but uncertainty is your friend when you're a buyer it's not your friend when you're a seller so um no I I think so 2026 continue to live with the uncertainty put your blinders on a little bit I and then look at data like that's why I do my my monthly updates the monthly updates are looking at the month before so it is slightly a lag it's a lagging indicator when you look back a month but pending sales that's telling us about what's coming for the the housing market so keep track in pending sales track mortgage applications cause that's another leading indicator if you see more people writing or applying for mortgages that means hey there's more competition out there so keep looking at your leading indicators have some realistic blinders on and pull the trigger like make a decision and don't look at Redfin after you buy a house and don't look at Redfin or Zillow after you sell your house cause I did I sold my house earlier in the year and then it's telling me I left 300 400 500,000 on the table I didn't I know that yeah yeah but yeah just make the decision go yeah that's and when you make you gotta give yourself Grace you gotta say look hey I made the best decision I could at the time so in 10 years you're either a genius or an idiot give yourself Grace for that that person 10 years ago yeah yeah no don't look right away and think yeah no I yeah that's some great advice I'm sure a lot of people are married to looking at their Zillow Zest uh and I don't I get it you know it's not right it's not right it's either too high or too low so just ignore it um but yeah that's so 2026 prediction is it's just gonna be a whole lot more uncertainty and there's always opportunity and uncertainty because the same uncertainty that you're swirling around in other sellers are swirling in that and other buyers are swirling in that so you gotta be the person who's gonna figure out a way to swim to the top look around make a decision and go just keep swimming that's it that's it Dory said it best you got young kids so you've watched it oh yeah way too many Disney movies these days it's it's getting a little I think I'm losing it I'm going a little cuckoo but Christian always appreciate your insights especially when you back it up with some real data so I appreciate you bringing those to the table today and I look forward to our next you know time together um for everyone that's still watching please like this video and subscribe to our channel it definitely helps our the YouTube algorithm show more people that might be interested in this type of content um if you want to explore foreclosure listings in your area don't forget to sign up for our free foreclosure alerts at foreclosure.com that way you can get you know the notice of defaults or REO properties or all the different listing types um you can also do your zip code your county your city so wherever you're interested in looking at um it's a pretty easy process it takes less than 10 seconds to get it done so until next time I'm Tim Jones and thanks for tuning in have a good one
