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Old 07-19-2011, 07:07 PM
 
Location: SW MO
23,593 posts, read 37,489,025 times
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California foreclosure starts fall to lowest level in four years - latimes.com

That's more like it. Hope California keeps it up. With a combined five children and six grandchildren in the state, plus in-laws, any good new is just that.

The usual complement of naysayers is now free to move about the cabin!

 
Old 07-19-2011, 07:56 PM
 
5,113 posts, read 5,974,132 times
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Quote:
Originally Posted by Curmudgeon View Post
California foreclosure starts fall to lowest level in four years - latimes.com

That's more like it. Hope California keeps it up. With a combined five children and six grandchildren in the state, plus in-laws, any good new is just that.

The usual complement of naysayers is now free to move about the cabin!
Sometimes I really wonder about you people. Didn't you know that foreclosures have been halted for the most part in all 50 states by the Obama administration? Now we have people staying in their homes free of mortgage and rent again complements of the Obama reelection campaign.
 
Old 07-19-2011, 08:12 PM
 
Location: Los Angeles area
14,016 posts, read 20,912,457 times
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Default Good news, or not?

Quote:
Originally Posted by Curmudgeon View Post
California foreclosure starts fall to lowest level in four years - latimes.com

That's more like it. Hope California keeps it up. With a combined five children and six grandchildren in the state, plus in-laws, any good new is just that. The usual complement of naysayers is now free to move about the cabin!
Not sure this is good news. If it meant that the inventory of distressed properties was finally beginning to get smaller, then it would be good news. But I'm afraid it just means that the banks have pulled back some due to regulatory questions and the pace of forclosures has temporarily slackened. The banks have always been careful not to dump too many forclosures on the market at once anyway because the resulting downward pressure on prices would constitute shooting themselves in the foot. I wish I could be as optimistic as the OP, but I'm afraid it will take a few more years for the distressed inventory to work its way through the system and be sold. Only then will real estate values begin to recover. But the good news is that in the meantime, people with a down payment can buy a home at very favorable low prices.
 
Old 07-19-2011, 09:46 PM
 
Location: Dublin, CA
3,807 posts, read 4,277,042 times
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Quote:
Originally Posted by Don9 View Post
Sometimes I really wonder about you people. Didn't you know that foreclosures have been halted for the most part in all 50 states by the Obama administration? Now we have people staying in their homes free of mortgage and rent again complements of the Obama reelection campaign.
I just spit my diet root beer all over my keyboard. I actually agree with something you said...
 
Old 07-20-2011, 07:32 AM
 
25,619 posts, read 36,712,723 times
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Quote:
Originally Posted by Don9 View Post
Sometimes I really wonder about you people. Didn't you know that foreclosures have been halted for the most part in all 50 states by the Obama administration? Now we have people staying in their homes free of mortgage and rent again complements of the Obama reelection campaign.
Agreed, talking with several people in the mortgage lending industry, they have just not been able to process foreclosures fast enough. As such there is a larger back log of foreclosures than 12 months ago. The title of this thread is very deceptive.

The foreclosures need to start cranking again so properties can be snapped up, reconditioned ( what I do) and sold to investors or people who can afford them.
 
Old 07-20-2011, 07:48 AM
 
Location: SW MO
23,593 posts, read 37,489,025 times
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Quote:
Originally Posted by Bulldogdad View Post
The foreclosures need to start cranking again so properties can be snapped up, reconditioned ( what I do) and sold to investors or people who can afford them.
And there go the neighborhoods!
 
Old 07-20-2011, 09:36 AM
 
Location: Declezville, CA
16,806 posts, read 39,955,069 times
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Not necessarily. We snapped one up down the street last year... just shy of an acre with two rental houses on it. Sold in '06 for 650, we got it for ~200. Came complete with two tenants who pay on time. Didn't even have to paint anything.
 
Old 07-20-2011, 10:59 AM
 
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,315,772 times
Reputation: 6471
Quote:
Originally Posted by Don9 View Post
Sometimes I really wonder about you people. Didn't you know that foreclosures have been halted for the most part in all 50 states by the Obama administration? Now we have people staying in their homes free of mortgage and rent again complements of the Obama reelection campaign.
While this seems to be something that everyone repeats until it is accepted as fact, it is not true.
 
Old 07-20-2011, 03:06 PM
 
25,619 posts, read 36,712,723 times
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Quote:
Originally Posted by Curmudgeon View Post
And there go the neighborhoods!
Bullcrap. You have no idea what you are talking about. So you think everyone should be able to buy a house even though they can't afford it? Where are they supposed to live if rental properties are not available. Its thinking like yours that helps perpetuate an already bad housing situation.
 
Old 07-20-2011, 03:10 PM
 
Location: SW MO
23,593 posts, read 37,489,025 times
Reputation: 29337
Quote:
Originally Posted by Bulldogdad View Post
Bullcrap. You have no idea what you are talking about. So you think everyone should be able to buy a house even though they can't afford it? Where are they supposed to live if rental properties are not available. Its thinking like yours that helps perpetuate an already bad housing situation.
Lot of aassumptions there, Bud, and all of them incorrect which makes me believe it's your veracity that should be called into question. I don't have a dog in the housing race, you do. Your posits are too irrational to even warrant direct response.

Last edited by Curmudgeon; 07-20-2011 at 03:53 PM..
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