My last three blogs here and elsewhere were on how HOPE, HAMP, and HAFA would not stop the next wave of foreclosures in California. Most scoffed and told me to forget REO that Short Sale will be all the rage and there will be little to no foreclosure activity in the future. Well not so fast my friends. Todays Foreclosure report showed that California Foreclosure activity is up a whopping 92.3% YtoY from March of 2009. Even if half of those went to third parties, sold short, or were modified that will give us a 40-50% increase in Foreclosures in the next 12 months as it now takes an estimated 262 days from NOD to MLS. I for one will be working my lenders and vendors hard this summer. Make sure your resume, Errors & Omissions Insurance, RES.net, Equator, 5 Star, are up to date because there is going to be a need for QUALIFIED REO Agents for several years to come.