[fof5]

Even in Arizona and Florida, which are among the states most hard-hit by the collapse of the housing market, a few rays of light are starting to shine through.

Bargain hunters may toss a lifeline to housing*|*Top Business News*|*Reuters.com

mod cut: removed text and inserted link

[miruca]

So ... where are these foreclosure bus tours.... and how do I get o one ???

[firemed]

Originally Posted by fof5

NEW YORK (Reuters) -
Even in Arizona and Florida, which are among the states most hard-hit by the collapse of the housing market, a few rays of light are starting to shine through.

Bargain hunters may toss a lifeline to housing | Top Business News | Reuters.com

Naples is an area that don't list the numbers people don't want to see, But sit back . Lee County also saw record foreclosures: In January, there were 1,833 filed.

To date, there are 6,732 properties available for sale in Lee County, plus 18,423 that carry tax liens.



So you might want to find a seat on that bus.


Collier housing market still in the woods, county numbers show : Collier County : Naples Daily News

[jbravo]

_

Banks are asking 25% off the insane "lets buy anything" ridiculous selling prices of 2005.
The houses were in a neglected, sorry shape.
There were no deals that I saw.
Yes, some might bite; and regret it afterwards.


Most ironic moment of the tour: when the tour guide told us that the last owner of the house we were going to see in Abacoa in Jupiter was an agent in her company who had lost the house to foreclosure.
Should add that I have nothing negative to say about the tour itself and would recommend it to anyone unless you suffer from a compulsion to buy.

Spoke to many brokers in the area, buyers are offering 45%-50% off the asking prices, and are adamant that the broker present the offer (which they are obligated to do.)

Desperation and despair everywhere, and bound to get worse.
You see the fear in peoples eyes, most are still in denial.

This will take time.

[FtLaudPete]

Originally Posted by jbravo

_

Banks are asking 25% off the insane "lets buy anything" ridiculous selling prices of 2005.
The houses were in a neglected, sorry shape.
There were no deals that I saw.
Yes, some might bite; and regret it afterwards.


Most ironic moment of the tour: when the tour guide told us that the last owner of the house we were going to see in Abacoa in Jupiter was an agent in her company who had lost the house to foreclosure.

Spoke to many brokers in the area, buyers are offering 45%-50% off the asking prices, and are adamant that the broker present the offer (which they are obligated to do.)

Desperation and despair everywhere, and bound to get worse.
You see the fear in peoples eyes, most are still in denial.

This will take time.

Great Post. This thing is going right according to the layout in the housing blogs. We are still firmly in denial in many respects. Almost every realtor is on here saying activity is increasing and the market will turn around soon....utter, total denial. All that is happening is as predicted, a few people are falling for the still way overpriced foreclosures. It happens in every bubble. This thing has barely even begun yet. The market will be lower in 6 months, a year, 2 years....for a long, long time. 2 years from now Florida real estate will be a bad cliche and selling for 50-70% off peak prices of 2005.

[THX 1138]

There is a glimmer of hope, the median home price in PB County rose last month by a marginal amount. Now let's all rearrange the deck chairs on the Titanic while we are at it.

[FtLaudPete]

Originally Posted by THX 1138

There is a glimmer of hope, the median home price in PB County rose last month by a marginal amount. Now let's all rearrange the deck chairs on the Titanic while we are at it.

Yeah, I saw that. I guess a multi million dollar estate sold and raised the median. Now if they can just sell off that off the charts record 55 month inventory in PBC!

[firemed]

Originally Posted by FtLaudPete

Yeah, I saw that. I guess a multi million dollar estate sold and raised the median. Now if they can just sell off that off the charts record 55 month inventory in PBC!

That a good point! I'm in lee county and I don't see a change anytime soon. a mortgage research firm, says one of every 86 homes is in some stage of foreclosure in the Cape Coral-Fort Myers region. At this rate we would have to sell 1/4 of the homes in the area.

NBC2 News Online - Cape Coral-Fort Myers foreclosures #1 nationwide

[miruca]

Thank you for the info on the bus tour - it doesn't sound like the way to go.

[lostbuyer]

its crazy how a couple of years ago some of us were waiting and anticipating this moment in floridas housing saga ,and now that its here its unreal ,I thought I had seen it all in the 92 L.a. riots apparently I was wrong,different scenario similar outcome ,arson anyone (foreclosure victims) unfinished houses,abandoned homes,alot of towns are gonna end up looking like south central..note to self dont buy until you see what the neighborhood turns into.