Az Foreclosures

[blue578]

Can't you sue?

[blue578]

Do not assume lenders loaned to people who could not afford it. They check paperwork. The rel estate market has its ups and downs and this is the beginning of the down trend. It will last a good 7 years. Why are all the AZ posts about real estate? yOU WOULD THINK THAT IS ALL THERE IS HERE. Ys there is overbuilding, but heckpeoplewanted to come here till they find out the employment pays a fraction of what they would get somewhere else, if they can find a job, the weather is outragious and it is not terribly desirable. but look at other states, Missouri, Michigan, PA foreclosures all all over the nation. It is not a good time in America. Our ecomony +++and people all over the nation, good hard working people, bought into the american dream and now all the money being funneled into the war and companys outsourcing to other countries has made a delema for our nation.
People get blamed as bieng stupid for getting ARMs, but that was at a time that is what the lenders were pushing. My lender tried to tell me I could only get an ARM, I said then I will not go with you I want fixed. However I am one of those poor slobs whose house is going ito foreclosure due to extenuating circumstances, Not lack of
funds, not trying to be the best on the block. My child was hurt in a school bus accident,and permaently injured, the schools insurance company will not pay, my nastys neighbors terrorized us to move out, and my income was greatly reduced due to personal issues.
Things happen. houses get burned down around this place if a neighbor doesnt like you.
The real estate market has its ebbs and flows. And now peole are putting their money somewhere else, if they can get housing affter their credit is trashed.
My bank was already paid by fannie mae/mac so I don't know what the banks are wining about. They foreclose, seel the property for one dollar, and then make money on it again.
The business is well and thriving believe me.
Be glad you don't have a house back East where thousands of peoples home owners insurance was flat out cancelled, due to beeing in a "proximity" of Katrina. Nevermind the fact that a hurricane never hit their state! What are they to do? If you have a mortgage you have to have insurance is what I thought. The whole
business stinks to .

[odinloki1]

Originally Posted by MotleyCrew

I don't see how you can just assume you will lose money on your home in two to three years. If someone can predict the market with that much clarity, we would all be rich.
The market goes up and it goes down. It is not the end of the world. We were stuck in our little mountain town for 12 years and just made the best of it. Live your life.

I think if I'm stuck in Tucson for 12 years I will end my life.

[twiggy]

Originally Posted by Ozark Nana

I don't agree with everyone wanting to get the government involved in issues that are personal choices by people....we are so heavily regulated, watched, taxed, fined and ticketed now! People need to start taking responsibility for their own actions! I have a very difficult time feeling pity for people that believe anything someone tells them without doing their research...you NEVER believe a builder, you NEVER use THEIR Inspectors, you always get your OWN Inspector no matter if the house is 10 years old or 10 minutes old....don't sign anything without having someone look at it if your unsure...anyone that tries to pressure you into signing something that your unsure of...walk away! Scrutinize and warranty's, guarantees, implied directives anything you see in writing QUESTION it and then take it to a Lawyer or a Paralegal to look over, or a trusted friend that has experience in those matters....if you don't know....FIND OUT! Protect yourselves.... and if you choose not to, well, that's YOUR choice...don't get the government involved because you made a mistake...and if it sounds to good to be true it probably is!

O.Nana

I think you need to investigate exactly what a inspector can tell you about a home. Not much! They can only tell you what they can see, the same things you can see! They can not tell you what's behind those walls or under that floor unless they can see a big crack through your house. You would see that as well. Inspectors need work and they get it from agents. It's in their best interest to sell the home as well, or they wouldn't work. They are not gov, funded or anything. My husband is a plumber and does a lot of work for real estate agents. He has been asked by friends to go into inspecting. After learning that they have a fine line between agent and home owner (telling a little but not enough to ruin the deal) we opted out of that business. Home inspectors have to make a living and they won't make anything without happy real estate agents! It's not like buyers are knowledgeable enough to support inspectors. If buyers would be the ones calling inspectors and not relying on agents to do this then they might be able to make a living and really tell you about the house. But buyers usually let the agent call the inspector they work with. How can they really do their job? They can't, unless they want to go out of business! They really can't ruin the deal unless it's already obvious. You need another avenue you can rely on to tell whether you should purchase or not. The inspector is not liable for what is not out in the open to see by him or you. Buyers be ware.

[MotleyCrew]

Originally Posted by odinloki1

I think if I'm stuck in Tucson for 12 years I will end my life.

I am sure you can find something to do, even in Tucson. LOL
I sincerely thought we were stuck in heck for 15 years, but we got busy with work and traveled a little. Time passed.

[odinloki1]

Originally Posted by MotleyCrew

I am sure you can find something to do, even in Tucson. LOL
I sincerely thought we were stuck in heck for 15 years, but we got busy with work and traveled a little. Time passed.

I volunteer with 2 organizations and work and attend the U of A full time. Its not a question of free time, its the fact that I hate living in Tucson and the things I'd like to do in my free time can't be done in Tucson (Scuba diving and backpacking)

[MotleyCrew]

Then I wish for a speedy market recovery for you.

[FunkyPioneer]

Arizona just made the top ten for the worst markets in the nation, LOL. When it goes back to 2001 prices things should be back to where they should be. What about when Phoenix runs out of water? Nobody thought about that when they built all those homes. I think the AZ market is so fun to watch colapse, all those stupid people who bought over inflated homes.

[Bummer]

Originally Posted by odinloki1

I think if I'm stuck in Tucson for 12 years I will end my life.

LOL @ odinloki

Rather than something so drastic, have you considered moving away and leasing your place?

[ArizonaBear]

Originally Posted by FunkyPioneer

Arizona just made the top ten for the worst markets in the nation, LOL. When it goes back to 2001 prices things should be back to where they should be. What about when Phoenix runs out of water? Nobody thought about that when they built all those homes. I think the AZ market is so fun to watch colapse, all those stupid people who bought over inflated homes.

Well: looking at the Southeast as in Georgia, etc. with their severe drought--------the Phx area is safer.

As for housing prices: crash baby crash.