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BAGirl:
From your own link: The three states hit hardest by foreclosure in 2008 were Nevada, Florida and Arizona. In Nevada, 7% of homes received a foreclosure filing - such as a notice of default, auction sale notice or foreclosure sale. It never says there were 25% foreclosures every year. Think about it, Nevada was the worst state and 7% of homes received foreclosure notice. That's simply a notice which means fewer actually went into foreclosure. Look at the data again, I think you misinterpreted it.
Last edited by Brandon Hoffman; 05-06-2011 at 08:07 AM..
Brandon that particular article stated that
NEW YORK (CNNMoney.com) -- U.S. foreclosure filings spiked by more than 81% in 2008, a record, according to a report released Thursday, and they're up 225% compared with 2006.
There are plenty of articles out there that state 25% foreclosures. I'll look them up and repost. Had thought that I posted 3 articles but it only looks like two were actually in my response. I'd be very leary of believing only 7% of homes went into foreclosure because of the shadow inventory the banks have so the # is most likely much higher and I doubt the real # of homes in foreclosure are even really reported (same thing with unemployment). Also, that article in particular is from 2008 so you can only imagine the number of people who have lost their home from 2008 to current date.
Honestly, I don't know why it seems that some people WANT the housing market to decline. Even if you don't own your own home, the housing market has such an effect on the US economy.
Think about just this ONE section: with less housing being built, plumbers, builders, electricians, etc., etc., etc. have less work. With less work, they have less money to spend. Less money being spent means grocery stores layoff workers, even Wal Mart's sales are down. Less jobs are needed. And it just goes on and on. Why would this make anyone happy?
Vicki
I want it to crash so badly due to a variety of reasons. You are a real estate, so you will never understand. I compare your profession to vultures.....you guys used to make a pretty penny for absolutely no work and many real estate agents use highly questionable tactics. In NY, I am looking for a house and guess what my major problem is......the real estate agent. They don't want a customer to get the best price, because that affects their bottom line. THey will work in cahoots with each other to keep the price and their commissions high, even though Buyer/seller agents cannot under law. But who's watching? Developers and real estate agents work hand in hand, and you guys used to build a mint of the working class. Now, you guys barely see a paycheck. Welcome to Middle America. The American Dream was about being able to work hard and afford a roof over head. Not any more. Sorry I am not attacking you personally Vicki but I am very frustrated by RE agents in my area. I had one RE agent show me a house for which I placed a bid. I put an offer of $550,000. No budging, so fine. Then I found out the house sold for $553,000. Why didn't my RE agent notify me? She said I thought you weren't interested! If I wasn't, wtf would I place an offer in the first place. It seems certain areas still practice good 'ol racism and real estate has its fair share of it. The neighborhood doesn't like seeing minorities buying into their neighborhoods. So keep it and I hope you become broke/bankrupt, maybe when your kids are eating out of a dumpster. You'll see everything in one color, till then suffer. Think about this, plumbers, electricians, builders make a damn good living charging extremely high prices just to come thru the door without any work. No accountability, no work but high prices? WTF! Corporate America is what ruined this country and gave our competitors an edge. Remember that. The store that you go to buy granite countertops more than likely get its granite sourced from China. The clothes, China.......the electronics,.....China, etc. I have a very easy solution to turn around the housing market, charge prices closer to what they actually cost. I am 110% the housing market will change for the better. But, the greed is stopping you from doing that. So enjoy the crisis. I hope you like to eat seaweed.....
I want it to crash so badly due to a variety of reasons. You are a real estate, so you will never understand. I compare your profession to vultures.....you guys used to make a pretty penny for absolutely no work and many real estate agents use highly questionable tactics. In NY, I am looking for a house and guess what my major problem is......the real estate agent. They don't want a customer to get the best price, because that affects their bottom line. THey will work in cahoots with each other to keep the price and their commissions high, even though Buyer/seller agents cannot under law. But who's watching? Developers and real estate agents work hand in hand, and you guys used to build a mint of the working class. Now, you guys barely see a paycheck. Welcome to Middle America. The American Dream was about being able to work hard and afford a roof over head. Not any more. Sorry I am not attacking you personally Vicki but I am very frustrated by RE agents in my area. I had one RE agent show me a house for which I placed a bid. I put an offer of $550,000. No budging, so fine. Then I found out the house sold for $553,000. Why didn't my RE agent notify me? She said I thought you weren't interested! If I wasn't, wtf would I place an offer in the first place. It seems certain areas still practice good 'ol racism and real estate has its fair share of it. The neighborhood doesn't like seeing minorities buying into their neighborhoods. So keep it and I hope you become broke/bankrupt, maybe when your kids are eating out of a dumpster. You'll see everything in one color, till then suffer. Think about this, plumbers, electricians, builders make a damn good living charging extremely high prices just to come thru the door without any work. No accountability, no work but high prices? WTF! Corporate America is what ruined this country and gave our competitors an edge. Remember that. The store that you go to buy granite countertops more than likely get its granite sourced from China. The clothes, China.......the electronics,.....China, etc. I have a very easy solution to turn around the housing market, charge prices closer to what they actually cost. I am 110% the housing market will change for the better. But, the greed is stopping you from doing that. So enjoy the crisis. I hope you like to eat seaweed.....
I'm really very sorry for you and I don't mean that to be rude or mean. I hear the frustration and the anger in your post and I'm sorry you have to live this way.
First of all, It makes no sense to me that you gave an offer of $550,000 and you heard nothing and then you found out it sold for $553,000. I think you are leaving out quite a few details.
I have heard "stories" from my NY clients that have moved to North Carolina about how "crooked" folks are in other states and how amazed and PLEASED that they are that this isn't the case in NC. I can't really even relate to the comments you have made because I have not encountered any of that.
I don't see agents working in "cahoots" with each other. In NC, we have sellers' agents and buyers' agents. Sometimes I run into other Agents that go to the extreme to argue to try to get a higher price for their sellers. Sometimes this is realistic and sometimes it isn't.
I would rather SAVE my client $10,000 than have them buy a home that is $10,000 more. That $10,000 means a lot to my clients. $10,000 equals about $240 to me/my company. If I were on a 50/50 split with my company (which I am not), that would mean I'd get $120. Do you really think that is a big deal to me? Nope. That $10,000 to my client would make me much happier. But that is just me.
As for your comments against plumbers and electricians, most of the ones that I use are small businesses. I don't think their prices here are that ridiculous but then, I'm in NC. I just had someone come to repair my ice maker in my fridge. He charged $65 and that included the part. He was here about 20 minutes. Do you think that is crazy? He did drive his own truck, use his own equipment, have to pay for the part and actually took the time to do the repair. Seems reasonable to me.
I'm not sure what race has to do with your comments. I hope you are not one of those people that uses that whenever you don't get what you want. I think it is over played and I do think most folks are just tired of hearing the "oh poor me" stuff.
There is an old saying in Real Estate, "20% of the Agents make 80% of the money". What that means to me is that the ones that work hard and work smart get paid well. Not all agents work hard or work smart. Some don't work the way I work. Some do things I would not do but I think you see that in every profession.
No matter if I was having a good year or a bad year, I would not wish anything bad on others. I see that is the difference between you and me.
I am a Real Estate Agent and I love my job. I only work with clients that want my HELP. I have turned away buyers and sellers that I felt were less than honest. Making money off them and having to do what some have asked me to do that I felt wasn't morally or ethically "right" made me walk away. So, as you can see, the almighty dollar didn't sway me. My husband also has a very well paying job. We work hard. We live within our means and we save money. So, no worries, my kids are all well fed.
In this real estate market, I am finding more buyers and sellers that LOOK for an honest agent that they can trust. Maybe that is why my phone constantly rings?
My suggestion to you is you try to understand what a total crash of the housing market means to EVERYONE. It effects us all, whether you own a home or not.
I also suggest if you are really trying to purchase a home, you find yourself a good Realtor. Call on of the better known companies within your area. Talk to the broker in charge. Ask for an agent that is a CRS (Certified Residential Specialist) or an agent that is a ABR (Accredited Buyer's Representative). Talk to your agent and if you feel like you aren't being heard, you don't have the right agent. Keep trying until you get that right agent.
I want it to crash so badly due to a variety of reasons. You are a real estate, so you will never understand. I compare your profession to vultures.....
Don't sugar coat it Kid; tell 'em how you really feel!
I want it to crash so badly due to a variety of reasons. You are a real estate, so you will never understand. I compare your profession to vultures.....you guys used to make a pretty penny for absolutely no work and many real estate agents use highly questionable tactics. In NY, I am looking for a house and guess what my major problem is......the real estate agent. They don't want a customer to get the best price, because that affects their bottom line. THey will work in cahoots with each other to keep the price and their commissions high, even though Buyer/seller agents cannot under law. But who's watching? Developers and real estate agents work hand in hand, and you guys used to build a mint of the working class. Now, you guys barely see a paycheck. Welcome to Middle America. The American Dream was about being able to work hard and afford a roof over head. Not any more. Sorry I am not attacking you personally Vicki but I am very frustrated by RE agents in my area. I had one RE agent show me a house for which I placed a bid. I put an offer of $550,000. No budging, so fine. Then I found out the house sold for $553,000. Why didn't my RE agent notify me? She said I thought you weren't interested! If I wasn't, wtf would I place an offer in the first place. It seems certain areas still practice good 'ol racism and real estate has its fair share of it. The neighborhood doesn't like seeing minorities buying into their neighborhoods. So keep it and I hope you become broke/bankrupt, maybe when your kids are eating out of a dumpster. You'll see everything in one color, till then suffer. Think about this, plumbers, electricians, builders make a damn good living charging extremely high prices just to come thru the door without any work. No accountability, no work but high prices? WTF! Corporate America is what ruined this country and gave our competitors an edge. Remember that. The store that you go to buy granite countertops more than likely get its granite sourced from China. The clothes, China.......the electronics,.....China, etc. I have a very easy solution to turn around the housing market, charge prices closer to what they actually cost. I am 110% the housing market will change for the better. But, the greed is stopping you from doing that. So enjoy the crisis. I hope you like to eat seaweed.....
NY real estate is a beast. While I am sorry you are having a bad experience, NY real estate isn't like real estate in other parts of the country. I don't know if you have owned property before or not, but NY is its own funky pocket that functions completely differently than the rest of the US.
I also don't have crazy high prices for plumbers, electricians, etc. I assume they charge crazy high prices out there because they have to live out there too and real estate is incredibly unaffordable there. Businesses have overhead costs and consumers will pay for that as part of their hourly rate.
The US is a big place. Maybe there is some other place that would make you happier?
Brandon that particular article stated that
NEW YORK (CNNMoney.com) -- U.S. foreclosure filings spiked by more than 81% in 2008, a record, according to a report released Thursday, and they're up 225% compared with 2006.
There are plenty of articles out there that state 25% foreclosures. ...
There aren't plenty of articles out there stating 25% of homes are in foreclosure because it's not true. I don't dispute that foreclosure filings have spiked but it's still the vast minority of around 3-4% nationally that have been foreclosed on. If someone is 60 days late they get a notice. Plenty of those guys never go into foreclosure. I think you probably just mixed up some percentages attached to notices or perhaps some other line with foreclosures. I'm sure it was an honest oversight.
I would love to hear a realtor defend the Chicago market, where 46 percent of those with mortgages are underwater, and it is only going to get worse until the banks clear out all their shadow inventory.
If you thought the housing crisis was bad, think again. It’s worse.
LINK (http://www.cnbc.com/id/42955097 - broken link) - Home Values See Biggest Drop Since 2008
....suggesting that a bottom will not be seen until 2012 at the earliest.
This is as far as you have to go in each of those articles.
Quote:
New data just out from Zillow
Quote:
U.S. home values fell in the first quarter at the fastest rate since late 2008, real estate data firm Zillow said
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