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Old 09-22-2017, 05:20 AM
 
125 posts, read 191,263 times
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It looks like foreclosures in Houston was already up 67% before Harvey. I can't imagine what it's going to look like after owners of flooded homes with no insurance walk away. I'd imagine come the same time next year we're going to see significant losses in home values.

https://www.dallasnews.com/business/...housing-market
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Old 09-22-2017, 07:47 AM
 
309 posts, read 425,384 times
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Quote:
Originally Posted by bubbyK View Post
It looks like foreclosures in Houston was already up 67% before Harvey. I can't imagine what it's going to look like after owners of flooded homes with no insurance walk away. I'd imagine come the same time next year we're going to see significant losses in home values.

https://www.dallasnews.com/business/...housing-market
Foreclosures were up by 67%?? Wow, that's a figure that I'd never heard about this year.
Any idea on which parts of town foreclosures are the most in?

-RJ
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Old 09-22-2017, 08:14 AM
 
Location: Willowbend/Houston
13,384 posts, read 25,744,433 times
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Originally Posted by Jack Lance View Post
Who are the "we're" that you refer too ? Are you living in the Houston area ?
Some places will see significant loss in home value. If youre house flooded, your property value will dive. If youre house didnt flood but is still in a desirable area, it wont dive and may rise. Disasters have effects on home values.
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Old 09-22-2017, 08:43 AM
 
Location: Center City
7,528 posts, read 10,258,471 times
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I wonder if anyone knows what happened to the overall real estate picture after Allison. I know there are a couple of realtors who regularly post here. It seems clear that flooded properties would be abandoned. But wouldn’t that create an immediate premium for housing that didn’t flood?
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Old 09-22-2017, 09:00 AM
 
18,132 posts, read 25,286,567 times
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Can we just have one thread for "Harvey recovery"?
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Old 09-22-2017, 09:11 AM
 
1,237 posts, read 2,019,230 times
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NO real estate came back with a vengeance post Katrina. I don't know enough about the city and market to opine on it, but I wonder if we'll see the same here a few years from now. Of course the short term impact is going to be depressed values.
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Old 09-22-2017, 09:21 AM
 
Location: Mo City, TX
1,728 posts, read 3,442,958 times
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People have short memories
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Old 09-22-2017, 09:37 AM
 
958 posts, read 2,574,120 times
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Short term maybe.

You're starting to see homes that had water but only remediated. Likely no money to repair damage and no insurance.

I doubt can you even secure the standard kind of financing leaving cash buyers and investors
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Old 09-22-2017, 10:00 AM
 
125 posts, read 191,263 times
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Quote:
Originally Posted by Jack Lance View Post
Who are the "we're" that you refer too ? Are you living in the Houston area ?
Yes, in the Sugar Land area. Now that I've indulged you, what bearing does that have to the post?
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Old 09-22-2017, 10:13 AM
 
Location: Beautiful Northwest Houston
6,292 posts, read 7,498,832 times
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Quote:
Originally Posted by bubbyK View Post
Yes, in the Sugar Land area. Now that I've indulged you, what bearing does that have to the post?

[Mod cut: Warning - please leave it for the mods to judge]

Your article is vaguely referenced IMO, it talks about a 67% increase in foreclosures but does not give us a baseline as to what that increase means ? Was Houston's real estate market foreclosure rate higher, or lower, or average before this increase occurred ?

Last edited by elnina; 09-23-2017 at 07:11 PM.. Reason: Please stop it!
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