Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
As of June 30, there were 992,554 homes in the process of foreclosure, up 15.3 percent from March 31 and up 79.4 percent from the same period a year ago.
While the rock-bottom sales of foreclosed properties are dragging real estate prices down, what’s on the market now is the just tip of the iceberg. The report said that 106,007 foreclosures were completed as of June 30. For every bank-owned property, there were nine more homes in the process of foreclosure.
There were 23,102 short sales in the second quarter, up 34.8 percent from the first quarter.
Like many have stated before, if you are one of those looking to sell your home, price it 5-10% below sold comps and/or comparable homes on the market.
Without the internet and in your face media, I wonder if people knew during the Great Depression that almost 50% of all homes were in foreclosure.
Not a chance, but since todays media knows that misery loves company they jam it down our throats at every opportunity. They know that bad news sells better than good because it creates a lot more chatter (similar to this).
No one wants to be the only person they know that's unemployed or in the process of losing their home so I think some might find the news more comforting to their own situations, while others are simply tired of the negativity.
As of June 30, there were 992,554 homes in the process of foreclosure, up 15.3 percent from March 31 and up 79.4 percent from the same period a year ago.
While the rock-bottom sales of foreclosed properties are dragging real estate prices down, what’s on the market now is the just tip of the iceberg. The report said that 106,007 foreclosures were completed as of June 30. For every bank-owned property, there were nine more homes in the process of foreclosure.
There were 23,102 short sales in the second quarter, up 34.8 percent from the first quarter.
Like many have stated before, if you are one of those looking to sell your home, price it 5-10% below sold comps and/or comparable homes on the market.
The saoles advise depends on the market really. If they are not underwater or own then many are staying put or rentingout. if they are then many are walkaway and take the hit that is coming.Those homes more amd more are losing valuer because of teh repairs needed and the problem getting them financed. It a evil cycle;that will lead to many being tag and demolished i the future that banks take over;unless a investors groups take them in the bundles they are in.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
