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Old 12-24-2011, 03:52 AM
 
371 posts, read 835,690 times
Reputation: 94

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Bottom Line - It's official: Housing market was sicker than we thought

It's an interesting article, an interesting read.

In the 2nd comment the guy wrote "f you know what you are doing, now is a very good time to buy ( I am buying rentals and flips as we speak). Interview a few realtors, look in the county databases to" so where can I find those databases?

this is also another intesrting read Bottom Line - Real estate recovery in limbo until 2013, experts say (http://bottomline.msnbc.msn.com/_news/2011/12/23/9659776-real-estate-recovery-in-limbo-until-2013-experts-say?pc=25&sp=25#discussion_nav - broken link)
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Old 12-24-2011, 05:47 AM
 
21,188 posts, read 30,366,193 times
Reputation: 19627
Between the number of vacant homes, the number of new homes inexplicably still being built, and the number of foreclosures that banks haven't released yet it's not the best of news and won't be for quite some time.

Nearly 20% of Florida homes are vacant - Mar. 18, 2011
State by State Estimate of Shadow Inventory
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Old 12-25-2011, 10:14 AM
 
Location: a swanky suburb in my fancy pants
3,391 posts, read 7,559,210 times
Reputation: 1584
I am not at all surprised at this news. Next I would like to see the real and honest inflation rate over the last 10 years.
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Old 12-29-2011, 06:13 PM
 
1,201 posts, read 1,988,276 times
Reputation: 717
and, again, the american public takes another hit. yes, wallstreeters should be blamed, and blamed big time; however, americans should be outraged at that blow hard, two-faced, disingenuous, liar and narcissist, who lives in the white house. we should remember the closed door deals that he made w/ the wallstreeters, when he called them to the white house, after just having met w/ key congressional leaders---again, behind closed doors---as they all staged the great performance of outrage concerning the bailouts, the bonuses, the pay raises for themselves, and the stimulus packages. we shouldn't forget all of these things, all of the lies, and the liars behind the lies. we shouldn't forget the abdication of congress' duties, nor obama slipping away to wander the countryside, resting in the sun and floating on the waves. by now, everyone should see his operative ways of conveniently being out of town, on the road, in fruitless meetings in other countries, where he is laughed at, when he tries to tell others what they should do. he is a buffoon, and most leaders and informed voters know his game, and his lack of ability. truly intelligent people don't have to have a front team to tell the people, the congress, the world, and the media how intelligent one is, if, indeed they are intelligent. bo is a lacky, a windbag, lazy, do nothing, loud mouth, who blames everyone for his lack of ability and leadership.

telling the american public that recovery has begun, now going on two years ago, should tell those who continue to disbelieve that they have been the victims of a royal governmental screw. passing off these bits and pieces of ridiculous information, as if we didn't already know the real state of our economy, is the very thing that much of the public has tried to make the congress, the president, and these political parties understand. we are tired of the lies, the inability, the laziness, the greed, the way "things work in washington", and the way things will continue, until this system of seniority is changed, and the power of these offices are restored to reasonable levels. the infighting going on at this time is the result of "the new guard" challenging "the old guard." whips are the right name for leaders in congress, for they want to whip any who go against the parties, who are truly trying to help the people. seniority is important, and it has its place, but decades of power, which, btw, is centered on the protection of the form of government, not the government of the people.

economist now realize that we aren't really in a recovery, the housing analysts are now realizing the real depth of the foreclosure problem and the housing market disaster, nothing will really begin to turn around until mid 2013, blah, blah, blah. in other words, forget you american people, until we get our parties settled and our man inside the white house. they will continue to use their hard line code words like "the hard working middle class", our "working middle class men and women, and their children," and just pick a code word, phrase, or slogan, because they really don't mean a damn to you and me!

when it comes down to it, most of the senate is wealthy, by any definition of the word. not only do the senators have the assets, they have the inherit power of the office, they have the esteem, and they have great pensions, they have the best in medical care, health benefits, the best doctors, the best medical institutions, as do their families. we see how they profit from their former public offices, if they ever leave public "service". so, for the most part, it is a game to most in the senate about health care, working class people, voters, etc. nancy pelosi and her man have about 89 million dollars to play w/, and that was about 3 years ago. she can afford to keep having her skin pulled back, that is why she looks like a calf looking at a new gate waiting for milk. i used pelosi as an example, not that she is the poorest or the wealthiest of senators. i believe kerry and his wife's money, puts them at somewhere over 300+ million, and there are still one, possibly two others, who top that. much of the congressional house, though they don't have quite the prestige and power, have similar stories. at any rate, none have lost homes due to foreclosures. none have had to go one foodstamps, beg for extensions of utilities, arrange to pay for land line phones, or any of those things that are really not esteem-building to most.

consequently, these little revelations will continue to be dropped to the public in small bits and pieces, probably most of the bad news that can be controlled will be revealed on late friday afternoons, generally when no officials are around to answer questions, usually w/ the hope that memories will dull, even if it is only a long weekend. that is the way business is done in washington, and even in chicago. it really isn't about us, and that is the saddest reality of all.
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Old 12-31-2011, 12:32 AM
 
Location: The canyon (with my pistols and knife)
13,220 posts, read 17,957,502 times
Reputation: 14655
Apparently, if a patient in a hospital wakes up from a coma but remains hospitalized, then he's recovered.
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Old 12-31-2011, 04:00 AM
 
Location: Chicago, IL SouthWest Suburbs
3,528 posts, read 5,163,012 times
Reputation: 6115
what became of the new program to assist underwater homeowners?
Has this program just quietly vanished from the USA
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Old 12-31-2011, 09:32 AM
 
Location: Cleveland bound with MPLS in the rear-view
5,530 posts, read 10,138,339 times
Reputation: 2384
Quote:
Originally Posted by okaythen01 View Post
Bottom Line - It's official: Housing market was sicker than we thought

It's an interesting article, an interesting read.

In the 2nd comment the guy wrote "f you know what you are doing, now is a very good time to buy ( I am buying rentals and flips as we speak). Interview a few realtors, look in the county databases to" so where can I find those databases?

this is also another intesrting read Bottom Line - Real estate recovery in limbo until 2013, experts say (http://bottomline.msnbc.msn.com/_news/2011/12/23/9659776-real-estate-recovery-in-limbo-until-2013-experts-say?pc=25&sp=25#discussion_nav - broken link)
I'm sorry....are you asking where to find the data for real estate for business purposes? I'm curious to that myself, as I also want to be in this business (for slightly different reasons than just flipping or money) someday. I believe Zillow is a good place to start, and I think they have a lot more data than just what you can get for free if you pay for it. Also, real estate service companies such as C.B. Richard Ellis or Jones Lang LaSalle should have quite a bit of data themselves. And often those service providers receive data from Corpacz Realtor surveys and such, I think.....

If you find anything I'd love to hear where you got the info from! Any/all data that would help me make strong, objective real estate decisions is what I'm looking for. For instance: number of bedrooms, square feet, bathrooms, crime stats, prop. taxes, building materials, etc. The more the merrier!
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Old 01-02-2012, 05:59 PM
 
1,201 posts, read 1,988,276 times
Reputation: 717
late at night, i have noticed two commercials regarding home ownership. both are supposedly government sponsored and paid for by the government. one commercial states that the advertised program taunted in the commercial has been responsible for saving 1 million homeowners from foreclosure.

the other commercial states that money exists for those who want to lower their home loan. according to the commercial, the program has accommodated over 4 million homeowners. someone isn't telling the truth, as foreclosures continue to fill the courts, homes continue to be held by banks, as they remain shuttered and unkempt. if these people have no employment, how are they able to remain in house they could not afford in the first place?
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Old 01-02-2012, 06:18 PM
 
Location: East of Seattle since 1992, originally from SF Bay Area
29,781 posts, read 54,440,540 times
Reputation: 31078
Despite prices going back up in our area, and many new developments starting back up and selling new homes at $500k+, I do still see a few vacant houses around with yards overgrown and broken windows, and no "for sale" sign. I think the backlog of those foreclosed vacant homes being processed to the point of sale or auction is such that at some point in the near future investors will find even better opportunities, and in areas with a lot of them, there will be an additional drop in general home prices with even more inventory available. Those flippers buying now may be in for
bad news when they try to sell.
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Old 01-02-2012, 08:10 PM
 
Location: Cold Frozen North
1,928 posts, read 4,631,870 times
Reputation: 1274
Quote:
Originally Posted by okaythen01 View Post
Bottom Line - It's official: Housing market was sicker than we thought

It's an interesting article, an interesting read.

In the 2nd comment the guy wrote "f you know what you are doing, now is a very good time to buy ( I am buying rentals and flips as we speak). Interview a few realtors, look in the county databases to" so where can I find those databases?

this is also another intesrting read Bottom Line - Real estate recovery in limbo until 2013, experts say (http://bottomline.msnbc.msn.com/_news/2011/12/23/9659776-real-estate-recovery-in-limbo-until-2013-experts-say?pc=25&sp=25#discussion_nav - broken link)
The NAR was off by 16% in their estimates. What a surprise - not! Only until independent sources took issue with the NAR numbers did the truth come out. Bunch of lying thieves they are.
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