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"Throughout Mecklenburg County, where Charlotte is the county seat, homeowners are failing to keep their homes despite efforts by the state and nonprofits to link them to their lenders and negotiate affordable payment schemes. In February this year, 940 households received foreclosure and pre-foreclosure notices, an 82-percent jump from 517 notices filed in February 2009 and a 17-percent increase from 804 notices filed in the previous month. Last year, foreclosure postings in Mecklenburg reached 12,769, the highest number ever posted by the county."
"In the first 2 months of this year, foreclosures in Charlotte and in other parts of Mecklenburg totaled to 1,744 filings, a whopping 95-percent jump from total filings in the same two-month period in 2009."
I remember I had an argument w/a poster on c/d about the uptown market and how bad it was and was going to get (the vacancy rate is what I was talking about)....I'll never forget that he said that the market was "healthy" right now......just amazing how some people just put on the blinders and ignore what's going on....
This cycle won't end until we at least start having a net positive of jobs here. If you're out of work, most likely you won't be able to pay your mortgage.
Wow. I miss that Lumbollo. That is crazy 7 million dollars.
It's on there. I was going to look at the actual listing, but it turns out to be a real estate site where they want you to register in order to see the listing. Don't feel like going out and getting a 10 minute mail address to bother with them.
I remember I had an argument w/a poster on c/d about the uptown market and how bad it was and was going to get (the vacancy rate is what I was talking about)....I'll never forget that he said that the market was "healthy" right now......just amazing how some people just put on the blinders and ignore what's going on....
This cycle won't end until we at least start having a net positive of jobs here. If you're out of work, most likely you won't be able to pay your mortgage.
Its going to be bad for a long time.....
Jack,
You mean your not drinking that real estate recovery kool aid like some on here? I have always respected your posts because you have called it like you have seen it.
It's easier for people to just bury their heads in the sand than to face the reality of what is happening.
It's on there. I was going to look at the actual listing, but it turns out to be a real estate site where they want you to register in order to see the listing. Don't feel like going out and getting a 10 minute mail address to bother with them.
Lumbollo,
I found this one that has one listed at "only" 5 million dollars. When I say this one, I mean the condo building, because there are 20 units for sale at that price if I am reading it correctly.
I have to correct myself. That $7M listing is on New Bern St. which is in South End. Can't imagine what that might be unless it is property that was going to be developed. My guess is that it isn't worth close to anywhere near that now.
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LOL. Could you imagine the numbers if it did include Union County?
