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Old 03-07-2008, 02:19 AM
 
16,448 posts, read 10,807,370 times
Reputation: 9208

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Many will stay vacant and become vandalised and squatted. The banks don't have the manpower or resources to become rental managers. There will be ghost towns and abandoned sections of cities. Think Detroit.
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Old 03-08-2008, 09:06 AM
 
17,383 posts, read 24,673,793 times
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Default Not going up in the Pikes Peak Region

Latest numbers reported today: Business: Definitely a buyer’s market | prices, market, month : Gazette.com

- Median price of homes sold in February 2008 was $197,500, down 8.1% from February 2007.

- Seventh consecutive monthly price drop.

- Ample supply includes many foreclosured homes coming on the market.

- February 2008 sales were 556, down 17% percent from February 2007.

- Jan-Feb 2008 sales of 1,091 homes is a 19% decline from Jan-Feb 2007.

- A total of 5,571 are in the MLS as of February 2008, a 7% increase from February 2007.

- Supply is constant over past months, from the high of 7,000 in summer 2007.
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Old 03-08-2008, 09:12 PM
 
Location: Colorado Springs
92 posts, read 143,264 times
Reputation: 51
Some homes on the market in my neighborhood for at least a year....people are who sold have discounted homes 15 - 20% inorder to sell them..i am trying to sell my home so that i can retire and move to carolinas..however, i may have to wait a good while...tough sledding right now..
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Old 03-11-2008, 07:20 PM
 
Location: 80904 West siiiiiide!
2,757 posts, read 4,760,780 times
Reputation: 1228
Most of the owners trash the house on the way out. I actually started up a cleaning and hauling business,cleaning up the messes that these people made, and boy does it pay.

I know how they feel though, as I was one of those people who lost their home when they could no longer afford it, but as hurt and sad as I was, I couldn't help but think of the pooor people who would have to clean up my mess if I trashed it, so I actually CLEANED the house before I left.

I've had to clean out houses that had dead dogs in them. It gets pretty nasty.
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Old 03-11-2008, 10:02 PM
 
3 posts, read 6,032 times
Reputation: 13
You think that is bad? I lost my COMMAND!
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Old 03-11-2008, 11:59 PM
 
16,448 posts, read 10,807,370 times
Reputation: 9208
Quote:
Originally Posted by duke1946 View Post
i may have to wait a good while...tough sledding right now..
I don't pretend to be able to read the future, but you may be better off lowering below market and unloading now even if it hurts. I think the market is going down hard and historically it takes a long time to recover.
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Old 03-12-2008, 06:09 AM
 
Location: 80904 West siiiiiide!
2,757 posts, read 4,760,780 times
Reputation: 1228
Exactly why i'm renting now, even though I could buy if I wanted to
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Old 03-13-2008, 11:40 AM
 
14 posts, read 32,874 times
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I'm finally calling it quits and retiring from the military. We've already sold our house in Nebraska and plan on moving back to Csprings by June 1st. We are really torn on what to do...we hate thowing money at a rental, (and moving yet again) but at the same time are hesitant to buy a home at this time. Our daughter is doing wonderfully in school out here, and if she had any issues adapting to school out there, or we struggled finding employment (a retired E-9's paycheck won't cut the mustard, although I'd love to just play golf ) we'd move back here until she graduated. I don't want the financial burden of trying to sell a home next year in a market that's still declining. On the other hand, (according to my in-laws still living in the springs), foreclosures are on the rise and there are some deals to be had. I don't want to prey on the less fortunate, but need to do what's best for us financially. Anyway,,,how does one find out about homes that have been foreclosed or are at auction? Do you just contact any real estate agent for this type of help or are there foreclosure/auction specialists? Just curious how to start the process of "looking".
Thanks for all your help.

Don
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Old 03-13-2008, 12:00 PM
 
Location: CO
2,328 posts, read 3,958,213 times
Reputation: 2696
Quote:
Originally Posted by xfrmax View Post
I'm finally calling it quits and retiring from the military. We've already sold our house in Nebraska and plan on moving back to Csprings by June 1st. We are really torn on what to do...we hate thowing money at a rental, (and moving yet again) but at the same time are hesitant to buy a home at this time. Our daughter is doing wonderfully in school out here, and if she had any issues adapting to school out there, or we struggled finding employment (a retired E-9's paycheck won't cut the mustard, although I'd love to just play golf ) we'd move back here until she graduated. I don't want the financial burden of trying to sell a home next year in a market that's still declining. On the other hand, (according to my in-laws still living in the springs), foreclosures are on the rise and there are some deals to be had. I don't want to prey on the less fortunate, but need to do what's best for us financially. Anyway,,,how does one find out about homes that have been foreclosed or are at auction? Do you just contact any real estate agent for this type of help or are there foreclosure/auction specialists? Just curious how to start the process of "looking".
Thanks for all your help.

Don
Some information in this thread:
buying foreclosures....is that possible??
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Old 03-13-2008, 01:32 PM
 
14 posts, read 32,874 times
Reputation: 12
Great information...just what I was looking for..Thank you
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