PATTERSON L. PROPERTIES LLC.

POSSIBLE FORECLOSURE OPPORTUNITIES

Sun, 30 Aug 2026 12:32:49 -0700

While foreclosure filings have indeed trended upward—rising 21% year-over-year in the first half of 2026 to around 227,500 total properties—the broader dynamics of this shift point toward market normalization rather than a 2008-style crisis.

Here is how key market fundamentals compare between the current climate and the Great Recession:

Factor2008 Housing CrisisCurrent Market (2026)Homeowners' Equity Low/Negative (Underwater mortgages were common)Historic Highs (Safeguards against forced quick-sales)

Lending Standards Subprime/No-doc loans widespreadStrict Dodd-Frank post-2008 qualification standards

Distressed Volume 3.1 million foreclosures~227k mid-year filings (normalization toward pre-pandemic norms)

Bank Balance Sheets Highly leveraged with toxic mortgage debt strong capital reserves; regulated risk limits

Key Considerations for Investors & Wholesalers

Equity Serves as a Cushion: Because most current homeowners hold substantial equity, borrowers facing financial strain due to high borrowing costs or localized job losses can usually list their property traditionally or negotiate a standard sale rather than letting it go to a bank auction.
Selective Wholesale Opportunities: The end of pandemic mortgage protections and the rise in initial foreclosure starts (up 18% mid-2026) do create localized inventory gains for real estate investors. However, deep discounts across the general market remain limited compared to past downturns.
Lender Risk Appetite: Banks remain heavily incentivized to pursue loan modifications or short sales over taking back REO (Real Estate Owned) inventory, minimizing the likelihood of flooded, low-priced inventory.

Please contact Patterson L. Properties LLC. at PttrsLr1@gmail.com, If you're considering selling your distressed...Read More

IS THE REAL ESTATE MARKET COOKED?

Wed, 05 Aug 2026 17:24:37 -0700

So the current real estate market has been interesting for the last year. Affordability has been a continuing growing problem, with no real end in sight to tackle lowering housing prices. According to Forbes the average sales price for new homes in the U.S. is roughly $540,600, while the average existing home value is around $372,995. Because a few ultra-luxury homes can skew the "average," economists prefer the median home price. The median price for a single-family home nationwide is currently $436,523. For the purposes of this blog, I will focus on the nationwide home price of $436,523. It’s hard to even fathom one’s average everyday working people salary being able to afford a home at the price of $436,523 with today interest rates at 6.53%. Especially given the fact that according to Forbes the average annual salary in the U.S. is $64,505, while the median sits at $83,730 for households and roughly $63,360 for full-time individual workers. Salaries vary widely depending on location; for example, Massachusetts boasts an average of $83,050, compared to $49,740 in Mississippi. And with home prices for single family homes being between the 372,995 to 436,532. That makes the average monthly mortgage payments (Depending on the area) $2200 to $3500.

With the new Federal Reserve Chair Kevin Warsh the possibility of money being printed trying to bring down inflation. Also the current administration is calling to bring down interest rates in order to try to make the current overpriced housing market more affordable. Plus flooding the economy with money may boost...Read More

BUYING A HOME SUCKS FOR AVERAGE WORKERS IN 2023!

Tue, 07 Feb 2023 17:52:00 -0800

With very high, and constantly growing high loan interest rates buying a home, and a car in 2023 just basically sucks! Regardless of most working people's situation, we’re in a since back in the 2006 housing market territory where all homes across the United States of America (USA) were overpriced! Now back in 2020, the average cost of a home was 390k. Now in 2023, the average cost of a home in the USA is 535k. And when one thinks about the average salary within the USA is 54k a year. When doing the math of the average salaries, and home prices within the USA. The average monthly mortgage payments, in 2023 stem from 2000k to 2500k. Before taxes, the bi-weekly salary of a 54,000-a-year worker is 2,077$. In today's world when one thinks about the cost of childcare, food, utilities, cars, student loans along with high-interest rates etc.
Below are the home interest rates as of February 6, 2023:
30-year fixed-rate
6.361%
6.468%
20-year fixed-rate
5.835%
5.987%
15-year fixed-rate
5.355%
5.530%
10-year fixed-rate
5.311%

We live in a time where the average cost of a home in the United States of America is 380,000 dollars. In most major cities across the United States such as New York City, Los Angeles, CA, and Miami, Florida working class has been priced out possibly for good, unfortunately. The average cost of homes in most major cities across San Francisco, CA Los Angeles, CA Miami, FL San Diego, CA, and New York City, NY ranges from 650k up to 3 million dollars. Other major cities like metro Atlanta, GA, Nashville, TN Chicago, IL, Newark, NJ, Washington D.C., Denver, CO, Portland, OR, and Seattle, WA are not far behind.

According to the May 2020 National Occupational Employment and Wages Estimates by the BLS, the average salary in the United States is $56,310, with a median wage of $20.17 an hour. Now this salary/wage range in 2022 is not only unacceptable even in major cities such as Austin, Houston, and Dallas, TX because the average cost of homes in these major cities ranges from 400k to 625k as of March 2022. According to Annual Average Wages, Texas.gov Texas' average annual wages were $57,382 as of the fourth quarter of 2018, slightly higher than the U.S. average of $56,945 and 12th among the states. This family is not sustainable regardless if the states have high to no income state taxes.

SO WHAT IS THE WAY FORWARD FOR FUTURE HOMEOWNERS?
I can sum all of this up for working people, and definitely working families. Collaboration over competition. One’s last name should mean more than just having a family, and talking about family BBQs, picnics, reunions, birthday parties, etc.
Read More

WILL MORE PEOPLE BUY DIGITAL REAL ESTATE INSTEAD OF PHYSICAL REAL ESTATE BLOG?

Sun, 13 Mar 2022 15:29:50 -0700

The Real Estate market has been in a crazy tailspin since the inception of the 2020 Global Pandemic. Home interest rates are set to go up in 2022, increasing housing shortages, and of course, housing prices throughout the United States of America are constantly going up on a daily basis. The average price of a home from Georgia to New York falls from 300k to 700k. With that being, more people are trying to figure out where they can invest their money within the real estate market.

Now there is one area that one can invest their money into real estate, and that would be known as Real Estate Investment Trusts (REITS) Residential REITs own and manage various forms of residences and rent space in those properties to tenants. Residential REITs include REITs that specialize in apartment buildings, student housing, manufactured homes, and single-family homes. Within those market segments, some residential REITs also focus on specific geographical markets or classes of properties. People can invest in REITs via stock market platforms, such as Stash, Webull, or independent corporations such as the successful Tulsa Real Estate Fund. REITs were created by Congress in 1960 to give all individuals the opportunity to benefit from investing in income-producing real estate. REITs allow anyone to own or finance properties the same way they invest in other industries, through the purchase of stock.

Last but not least, with the inception of the Metaverse aka digital real estate, this concept is becoming more and more of a realistic phenomenon, especially for the younger generation. Now when it comes to the actual definition of the Metaverse virtual 3D world where you can socialize with friends, attend concerts in virtual reality, go shopping, or even order dinner -- all from the comfort of your...Read More

FAMILIES HOUSE HACKING MAY BE THE ONLY WAY BLOG

Sat, 03 Jul 2021 19:08:29 -0700

The current state of the housing market within the United States of America is a remarkably interesting phenomenon. Between low-interest rates, lack of housing inventory, lumber shortage all these things have increased housing prices, and lumber prices etc. There is one strategy that isn’t new, to the real estate investment community, and that strategy is House Hacking.
Now House Hacking falls into the category is when one get’s loan approval to purchase a home, lives in the property for a year. Then one after a year is up, purchases another property to live and keeps the process going. Multiple people getting together could quadruple these efforts. Meaning i.e. if four to five young professionals pulled their financial resources together they could purchase up to eight to ten houses.
One example if all five young professionals, (especially if they all have great credit) all parties could purchase homes utilizing Federal Housing Authority (FHA) loan. The FHA program is an opportunity for home first-time homebuyers to purchase a property with zero percent down payment. However, first-time homebuyers would have to still cover all closing costs. Here are the specific requirements, for one to qualify to participate in the FHA program. The FHA, or Federal Housing Administration, provides mortgage insurance on loans made by FHA-approved lenders. FHA insures these loans on single-family and multi-family homes in the United States and its territories. It is the largest insurer of residential mortgages in the world, insuring tens of millions of properties since 1934 when it was created.
o FICO® score at least 580 = 3.5% down payment.
o Read More

LOTS OF INVESTORS ARE BEING PRICED OUT BLOG

Tue, 01 Jun 2021 17:56:15 -0700

2021 the year after the COVID-19 pandemic took hold of not only the United States of America (USA) but the entire world economy. However, since last summer of 2020 the real estate market has been a cluster for all parties wanting to purchase properties. With not only real estate prices climbing at an all-time high. One particular phenomenon is starting to grow within the real estate industry. Major corporations are starting to buy up the high in-demand single-family homes at an alarming rate across America. With it being the beginning of June 2021, a lot of first-time real estate investors are beginning to be priced out of certain areas, and if the first-time investors do not have enough capital or access to the capital they will possibly remain to stagnate for the next few years.
So here are a few recommendations to look into for future 2021 real estate investors.
Think about investing in Tax Liens, in order to obtain a distressed fix and flip properties. If one is a homeowner, think about taking equity lines of credit in order to purchase your first investment property.
Continuously search real estate auction websites, and obtain foreclosure or inherited properties.
Team up with like-minded real estate investors in order to combat the increase in home prices.
Please bear in mind that these are just suggestions to get first-time investors into the real estate investment industry if that is your desire. If you’re a distressed homeowner, whole seller, or real estate investor, please contact Patterson L. Properties LLC. to utilize our services. Patterson L. Properties LLC. specializes in whole selling...Read More

ARE PROPERTY TAXES TAKING A MAJOR TOLL ON YOUR PROPERTY?

Sat, 06 Mar 2021 15:15:19 -0800

No matter what city, county, or state one lives in around the good old United States of America (USA) paying property taxes is a way of life. Unless one decides to purchase a property within the state of West Virginia (WV). West Virginia is the only state in the USA that doesn’t have personal property taxes. I am sure one of the biggest reasons why the state of WV, doesn’t have personnel property taxes is to attract businesses and residents to the state. WV is also one of the cheapest states to purchase real estate in. According to Zillow's Index chart, the typical home value of homes in West Virginia is $113,626. This value is seasonally adjusted and only includes the middle price tier of homes. West Virginia home values have gone up 4.7% over the past year. However, real estate investors can purchase distressed properties between 10k to 70k depending on the county one purchases the property. Now am I endorsing investors purchasing properties in the state of WV? No, because it is in every investor's best interest to do their due diligence when purchasing any investment. The true purpose of this blog, to look at other avenues is to ensure back-up plans. Meaning there is a multitude of investors like myself, will purchase rental properties in cheaper markets, like Pennsylvania, Maryland, Ohio, Indiana, Michigan, etc. The number one reason behind purchasing properties in these specific states is because the cash flow opportunities are massive in so many ways. One of the biggest reasons for the cash flow opportunities is because one can purchase properties from 5k to 50k dollars, meaning having a mortgage on the investment properties are less than likely. Most of these properties, are older and need more maintenance work, or need an overall facelift to make the properties habitable. However, at the end of the day, one will have to continuously pay property taxes regardless if the property has a mortgage or not.
The moral of this...Read More

WHAT TO EXPECT IN THE 2021 REAL ESTATE MARKET

Sat, 09 Jan 2021 09:18:53 -0800

With the United States economy for the most part remains at an all out standstill. Now because of the unfortunate COVID-19 pandemic not only has the price of residential properties have gone up, but home maintenance costs with contractors have gone up all at the same time. Also with the passage of the second stimulus package landlords and tenants are looking forward to more rental assistance programs for those who qualify and possibly more forbearance programs for homeowners. One thing is for sure that evictions have been halted until January 31, 2021. Also, the Department of Housing and Urban Development (HUD) issued a moratorium on home foreclosures until February 28, 2021, as long as the mortgages were backed by the Federal Home Administration (FHA) loans. One very great thing to point out is that the bill provides up to $25 billion in rental assistance. Now in my personal opinion that is great news for tenants and landlords all at the same time. Believe it or not, there are a lot of growing tired landlords across the United States of America that ether wants out of the real estate industry because of the lack of rental profits or the landlords are holding on for dear life to hold onto the real estate that they have. Also, real estate investors will have to overpay for a property or deal with today's pandemic situation for a good portion of 2021 non-paying tenants.
President-Elect Joe Biden has promised rental assistance for tenants for the remainder of 2021. However, a lot of landlords including myself are not as optimistic up to this point. As the year of 2021 goes on, one thing to keep in perspective, is that rental leases will begin to expire by March, April and May of 2021. Most landlords across the United States will be within their right to not renew with their tenants if they want to sell their properties, or find new tenants. These actions may change the trajectory of certain real estate markets if the inventory of...Read More

ARE REAL ESTATE PRICES GOING TO DROP?

Sun, 06 Dec 2020 10:37:14 -0800

The COVID-19 pandemic has for the most part stirred up the real estate market around the United States of America in an interesting way. Even though with the lack of home inventory, low-interest rates, and the fact that homeowners cannot be foreclosed upon, due to federal executive orders, and forbearance programs. Forbearance is when one mortgage servicer or lender allows you to pause (suspend) or reduce your mortgage payments for a limited period of time while you regain your financial footing. A multitude of federally backed mortgages has a December 31, 2020 deadline for requesting an initial forbearance. The CARES Act imposed a temporary moratorium on evictions of certain renters subject to certain conditions. With all of that being said, most homeowners, and landlords are not in a particular hurry to sell their property given the fact thousands of mortgage payments have come to a significant halt. The only high demand for real estate in the COVID-19 economy just so happens to be single-family homes. All other aspects of real estate such as commercial continue to stay stagnate and fall by 10% within the year 2021. Since the world in it’s self is becoming more and more isolated, office, retail and the hospitality aspects of the real estate market sales are down and will continue to go down in the future. As long as the isolation culture continues to grow along with lockdowns, travel bans and the whole get out of main street retail phenomena transpires. The hotel industry isn’t doing much better given the fact that most Americans do not, want to travel and stay at a hotel, or simply cannot afford to stay at a hotel as of December 2020. One of the biggest reasons why hotels are doing better financially compared to other commercial real estates, it's because that most travelers feel that the chances of contracting COVID-19 in someone's home is greater than contracting the virus within a hotel. My most recent mini-vacation to Houston, TX is a primary example of...Read More