Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 08-04-2007, 12:49 PM   #21
Thinks s/he gets paid by the post
lazygood4nothinbum's Avatar
 
Join Date: Feb 2006
Posts: 3,895
according to news article today there are more foreclosures here than i thought might be.

The number of people behind on their mortgage payments in July almost tripled in Broward County from a year ago, from 517 to 1,430, according to Plantation-based Realestat.com. In Palm Beach County, the number more than tripled from 298 to 1,063....

Last month, Broward's foreclosure sales increased 70 percent from a year ago, from 224 to 381. Such sales were flat in Palm Beach County, with 183 in July compared with 187 a year ago.

don't know what houses they are talking about as i don't see foreclosure signs in my two areas of concern. could be a lot of the spec condos in trouble though.

with population in broward of about 1.8mm (about 700k households) & in palm beach 1.3mm (nearly 500k households)--and i admittedly don't know how it all works out but--even today's foreclosures doesn't sound horrible on the whole.
__________________

__________________
"off with their heads"~~dr. joseph-ignace guillotin

"life should begin with age and its privileges and accumulations, and end with youth and its capacity to splendidly enjoy such advantages."~~mark twain - letter to edward kimmitt 1901
lazygood4nothinbum is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 08-04-2007, 09:08 PM   #22
Recycles dryer sheets
 
Join Date: Jan 2006
Posts: 163
My neighbor just put his house up for sale and it sold the next day. Other houses in my neighborhood have been on the market for 6+ months..guess it's how you price it and what condition it's in.

He's moving about a mile away to a newer, larger home but his property taxes are going to be $28k per year instead of $9k. Ouch.
__________________

__________________
Seems to me that the corporation's race to the top is resulting in a race to the bottom for the employee's quality of life. FIRE can't come soon enough.
kjpliny is offline   Reply With Quote
Old 08-04-2007, 09:40 PM   #23
Thinks s/he gets paid by the post
 
Join Date: May 2006
Location: Largo
Posts: 1,945
Khan wrote:

"Greater Dayton Ohio area.

Many homes for sale; price reduced signs; no down payment signs. Papers full of sheriff's sales. Many abandoned/long empty homes. People squatting in empty homes; selling drugs; setting fires; occasional body turning up. Much theft of siding/plumbing/wiring."

Khan - Are you describing Dayton today or during good times? I don't think there is much difference from what I have seen.
__________________
Buckeye is offline   Reply With Quote
Old 08-04-2007, 10:48 PM   #24
Moderator Emeritus
Khan's Avatar
 
Join Date: Aug 2006
Location: Pine Island, Florida
Posts: 6,868
Send a message via AIM to Khan
Quote:
Originally Posted by Buckeye View Post
Khan wrote:

"Greater Dayton Ohio area.

Many homes for sale; price reduced signs; no down payment signs. Papers full of sheriff's sales. Many abandoned/long empty homes. People squatting in empty homes; selling drugs; setting fires; occasional body turning up. Much theft of siding/plumbing/wiring."

Khan - Are you describing Dayton today or during good times? I don't think there is much difference from what I have seen.
Has been bad and has been getting worse.

Throw in a few factory closings and it tends to spiral down.
__________________
"Knowin' no one nowhere's gonna miss us when we're gone..."
Khan is offline   Reply With Quote
Old 08-04-2007, 11:14 PM   #25
Full time employment: Posting here.
 
Join Date: Jan 2006
Posts: 899
Santa Clara/Silicon Valley, CA:

Despite the sky high housing costs Silicon Valley has not been impacted as much as some other areas.

Sales are down but prices seem to be holding steady. According to Zillow my house has increased in value by ~$30k in the last year.

There is one house in my neighborhood that has been on the market for a long time but I think that is because it is over priced. Other houses have sold quickly. Many houses are still selling for more than than the offering price.

According to what I have read foreclosures have increased by several 100% but that is from a low base and the foreclosure rate is still lower than it was in the early 90s real estate slump.

MB
__________________
mb is offline   Reply With Quote
Old 08-05-2007, 09:57 AM   #26
Full time employment: Posting here.
Helena's Avatar
 
Join Date: Aug 2006
Posts: 642
Lots of homes for sale in the Dallas area.

We didn't see the huge spite in prices as
in Florida, California, etc... but homes here
are overpriced just the same.

And, now credit will become more difficult.

It's not going to be pretty.
__________________
Helena is offline   Reply With Quote
Old 08-05-2007, 10:34 AM   #27
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
kcowan's Avatar
 
Join Date: Jul 2006
Location: Pacific latitude 20/49
Posts: 5,735
Send a message via Skype™ to kcowan
Sales are slowing, especially in condos, but prices are holding. No more bidding above list price though. More inventory, longer listings time, more selection. Declining new housing starts.

Luxury cars seem to continue selling well in spite of sky high gas prices.

Retail sales seem to be at traditional summer levels (slower than fall).
__________________
For the fun of it...Keith
kcowan is offline   Reply With Quote
Old 08-05-2007, 11:56 AM   #28
Moderator
bssc's Avatar
 
Join Date: Dec 2005
Posts: 9,936
This article talks about how the Phoenix markets as seeing a lot of foreclosures in the fringe markets.
__________________
Angels danced on the day that you were born.
bssc is offline   Reply With Quote
Old 08-05-2007, 05:19 PM   #29
Thinks s/he gets paid by the post
 
Join Date: Apr 2007
Posts: 1,304
They are holding a '1st auction' of 100 homes in Las Vegas. The home prices in the Chicago area are at lows and nothing seems to be moving.
__________________
Life is GREAT!
megacorp-firee is offline   Reply With Quote
Old 08-07-2007, 08:27 AM   #30
Recycles dryer sheets
pfpelican's Avatar
 
Join Date: Jun 2006
Posts: 229
Mortgage problems hit Houston | Chron.com - Houston Chronicle
__________________
Old Guys Rule
pfpelican is offline   Reply With Quote
Old 08-07-2007, 09:17 AM   #31
Thinks s/he gets paid by the post
 
Join Date: Nov 2005
Location: North of Montana
Posts: 2,753
Quote:
Originally Posted by yona View Post
I am wondering how the RE market in Canada is doing.
Is any one of the Canadians here care to share?
Here in the west the bubble is still inflating. Everything sells quickly, usually above the (already inflated) asking price.
__________________
There are two kinds of people in the world: those who can extrapolate conclusions from insufficient data and ..
kumquat is offline   Reply With Quote
slow-real slow
Old 08-07-2007, 09:33 AM   #32
Dryer sheet aficionado
 
Join Date: Jun 2007
Posts: 41
slow-real slow

here in north central california,solano county, things are very slow, my home on the market for 5 months and not even 1 offer. priced right at 50k below last years price and still willing to nego. but no offers. realtor is baffled also,says he has never seen it like this in his 20+ years exper.
__________________
rpow53 is offline   Reply With Quote
Old 08-07-2007, 09:55 AM   #33
Moderator
ziggy29's Avatar
 
Join Date: Oct 2005
Location: Texas
Posts: 15,613
I'm out in the country, but the nearest metro area is Austin. It is holding up extremely well; in fact it's one of the strongest housing markets in the country right now. YOY prices are still up and homes are selling quickly for relatively strong prices in many neighborhoods.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
ziggy29 is offline   Reply With Quote
Old 08-07-2007, 02:48 PM   #34
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,386
In Seattle the media is still bullish, as are realtors of course. But I see lots of "reduced" signs on properties, and yesterday I heard on the radio that prices for homes and condos were up less than 2% year over year in June.

On the theory that if you aren't growing you are shrinking, I'd say the next step is some shrinkage.

There is a lot of the usual blather about land constrained markets, relative lack of building, etc., and I guess this is mostly true. But it didn't stop Tokyo's bust in the 90s, and it hasn't stopped San Diego from falling prices this year.

The main floor I can see here is that employment is strong leading to high rents which at some not too distant point I would think would start to support condos at least. I did read in yesterdays’ Seattle Times that many of the jobs created in WA during the past year were not "living wage" jobs.

Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is offline   Reply With Quote
Old 08-07-2007, 06:48 PM   #35
Thinks s/he gets paid by the post
 
Join Date: Oct 2005
Posts: 4,898
The whole Denver area is totally down the toilet, especially the Aurora area where there are lots of blue collar workers who cannot afford to lose a house. It's really a sad state.
__________________
Zoocat is offline   Reply With Quote
Old 08-07-2007, 07:00 PM   #36
Recycles dryer sheets
 
Join Date: Mar 2007
Posts: 176
If someone can't afford to lose a house they shouldn't purchase one with an ARM, interest-only, 40/50 year mortgage, or non-qualifying loan. All of those are signs you couldn't afford the house in the first place. Ignorant and/or stupid buyers/speculators and mortgage companies all have a hand in this one.
missionfinder is offline   Reply With Quote
Old 08-07-2007, 08:18 PM   #37
Thinks s/he gets paid by the post
 
Join Date: Aug 2004
Location: Laurel, MD
Posts: 2,951

From the above article:"buyers with bad credit or little money for a down payment can't get loans.

............................imagine that!!
__________________
jazz4cash is offline   Reply With Quote
Old 08-07-2007, 08:31 PM   #38
Full time employment: Posting here.
 
Join Date: Jun 2007
Posts: 567
So, the owner of house across the street from us overextended (managed to mortgage up to $292 on a house that could fetch $285 in a good market). It foreclosed and the bank listed it at $270 (to give another lens, we've been fishing at $280). After a few months on the market, they've dropped to $250.

That's gonna hurt the ol' comps
__________________
Webzter is offline   Reply With Quote
Old 08-07-2007, 09:20 PM   #39
Recycles dryer sheets
VoyT's Avatar
 
Join Date: Feb 2005
Posts: 445
Central Indiana: We've been hurting for a while with foreclosures and slow sales in many area. Now seeing the slowdown in the "popular" suburbs. I know one fellow who's sweating because his new house is nearly built and he hasn't had a nibble on his current home.
Funny though, there are still plenty of high-end condos going up, and the strip malls keep coming, though they never seem to fill completely.
__________________
"Coffee: the finest organic suspension ever devised." -- Kathryn Janeway
VoyT is offline   Reply With Quote
Old 08-07-2007, 09:28 PM   #40
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,386
Quote:
Originally Posted by Webzter View Post
So, the owner of house across the street from us overextended (managed to mortgage up to $292 on a house that could fetch $285 in a good market). It foreclosed and the bank listed it at $270 (to give another lens, we've been fishing at $280). After a few months on the market, they've dropped to $250.

That's gonna hurt the ol' comps
I am trying to understand what you mean. Did you bid $280 on this place, perhaps before it went into foreclosure? Why wasn't your bid accepted?

Also, can you say where this is?

Ha
__________________

__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Anybody need an extra $2500 a month ;) CybrMike FIRE and Money 5 06-04-2007 09:47 PM
What Real Estate Bubble? Art FIRE and Money 76 11-09-2006 03:33 PM
Credit Qs on PBHG's annual report (31 Mar 04) Nords FIRE and Money 1 07-28-2004 06:02 AM
Credit Reports--FREE mickeyd Other topics 3 06-13-2004 12:30 PM
Credit card selection Skylark Young Dreamers 27 03-12-2004 02:10 PM

 

 
All times are GMT -6. The time now is 02:18 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.