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Aug. 31--Some North County homeowners have gone months without paying their mortgages and have yet to receive a foreclosure notice, a development that suggests banks are overloaded ... Several homeowners interviewed last week said that they stopped paying their mortgages six to eight months ago and still have not received a notice of default, which typically comes by the fourth month of nonpayment.
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Originally posted by In nothing we trust
Acording to Realty Trac there are 1,576,587 houses in some state of foreclosure, in the U.S., at this moment in time.
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Posted 9/14/08
Acording to Realty Trac there are 1,576,587 houses in some state of foreclosure, in the U.S., at this moment in time.
Posted 10/10/08
Updated figure
1,634,435
+ 57,848 from 30 days ago
+ 3.5%
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Posted 9/14/08
Acording to Realty Trac there are 1,576,587 houses in some state of foreclosure, in the U.S., at this moment in time.
Posted 10/10/08
Updated figure
1,634,435
+ 57,848 from 30 days ago
+ 3.5%
Posted 10/31/08
Well the foreclosure rate seems to be gaining steam quickly.
Updated figure
1,706,163
+71,728 from 3 weeks ago
+ 4.4%
Originally posted by Sillyfool
If you have cash and you know of a house that is bank owned and not listed on the MLS with an agent. Go offer a super low price and you will probably get it.
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Posted 9/14/08
Acording to Realty Trac there are 1,576,587 houses in some state of foreclosure, in the U.S., at this moment in time.
Posted 10/10/08
Updated figure
1,634,435
+ 57,848 from 30 days ago
+ 3.5%
Posted 10/31/08
Well the foreclosure rate seems to be gaining steam quickly.
Updated figure
1,706,163
+71,728 from 3 weeks ago
+ 4.4%
Posted 11/9/08
Updated figure
1,729,084
+ 22,921 from last week
+1.3% increase over 1 week
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Posted 9/14/08
Acording to Realty Trac there are 1,576,587 houses in some state of foreclosure, in the U.S., at this moment in time.
Posted 10/10/08
Updated figure
1,634,435
+ 57,848 from 30 days ago
+ 3.5%
Posted 10/31/08
Well the foreclosure rate seems to be gaining steam quickly.
Updated figure
1,706,163
+71,728 from 3 weeks ago
+ 4.4%
Posted 11/9/08
Updated figure
1,729,084
+ 22,921 from last week
+1.3% increase over 1 week
Posted 11/15/08
1,744,332
+ 15,248 from last week
+1% increase over 1 week
The supply of unsold (Repossessed) homes is still rising.
The law of supply and demand says lower prices still.
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Posted 9/14/08
Acording to Realty Trac there are 1,576,587 houses in some state of foreclosure, in the U.S., at this moment in time.
Posted 10/10/08
Updated figure
1,634,435
+ 57,848 from 30 days ago
+ 3.5%
Posted 10/31/08
Well the foreclosure rate seems to be gaining steam quickly.
Updated figure
1,706,163
+71,728 from 3 weeks ago
+ 4.4%
Posted 11/9/08
Updated figure
1,729,084
+ 22,921 from last week
+1.3% increase over 1 week
Posted 11/15/08
1,744,332
+ 15,248 from last week
+1% increase over 1 week
The supply of unsold (Repossessed) homes is still rising.
The law of supply and demand says lower prices still.
Posted 11/22/08
1,761,000
+16,668 from last week
+.09% increase over 1 week
Freddie Mac and Fannie Mae are suspending foreclosures through the holdidays, so I expect to see a decrease over the next few weeks and then a sharp increase immediatly after the beginning of the new year.
I am seeing some pretty good price decreases on MLS listed homes. However, I expect to see property tax rates increase. Many of the local cities are struggling to balance thier budgets and many are in the red. Some cities are now announcing job layoffs.
We expect to see the number of bank owned homes increase well beyond present levels. Taxes in the outlying areas are higher than closer to the city center. This is also pressuring home prices lower. New home builders are dropping like flys now. They had scaled way back, but were still managing to build somehow.
Also I noticed an interesting twist just recently. Private investors are starting to release REO homes purchased in bulk onto the MLS priced well below the already dropping home price range. The banks still hoping for a miracle bailout are now competing with private investors purchasing in bulk and Fannie Mae and Freddie Mac (Government supported bailees, which are selling homes about 10% less than the competition) for a diminishing pool of eligable buyers. Incomes and the number of borrowers with good credit are shrinking. Apparently the Paulson / Bernanke bailout was a play to help bailout only government supported entities.
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Posted 9/14/08
Acording to Realty Trac there are 1,576,587 houses in some state of foreclosure, in the U.S., at this moment in time.
Posted 10/10/08
Updated figure
1,634,435
+ 57,848 from 30 days ago
+ 3.5%
Posted 10/31/08
Well the foreclosure rate seems to be gaining steam quickly.
Updated figure
1,706,163
+71,728 from 3 weeks ago
+ 4.4%
Posted 11/9/08
Updated figure
1,729,084
+ 22,921 from last week
+1.3% increase over 1 week
Posted 11/15/08
1,744,332
+ 15,248 from last week
+1% increase over 1 week
Posted 11/22/08
1,761,000
+16,668 from last week
+.09% increase over 1 week
Posted 11/29/08
1,773,649
Increase of + 12,649 over last week
+ .07% increase over last week
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Originally posted by In nothing we trust
Posted 9/14/08
Acording to Realty Trac there are 1,576,587 houses in some state of foreclosure, in the U.S., at this moment in time.
Posted 10/10/08
Updated figure
1,634,435
+ 57,848 from 30 days ago
+ 3.5%
Posted 10/31/08
Well the foreclosure rate seems to be gaining steam quickly.
Updated figure
1,706,163
+71,728 from 3 weeks ago
+ 4.4%
Posted 11/9/08
Updated figure
1,729,084
+ 22,921 from last week
+1.3% increase over 1 week
Posted 11/15/08
1,744,332
+ 15,248 from last week
+1% increase over 1 week
Posted 11/22/08
1,761,000
+16,668 from last week
+.09% increase over 1 week
Posted 11/29/08
1,773,649
Increase of + 12,649 over last week
+ .07% increase over last week
Posted 12/7/2008
1,786,757
Increase + 13,108 over last week
+ .07% increase over last week