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Old 03-05-2010, 02:46 AM
 
314 posts, read 454,353 times
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"Foreclosures in Charlotte Still Surging due to Job Losses" - March 4, 2010

Foreclosures in Charlotte Still Surging due to Job Losses


"Throughout Mecklenburg County, where Charlotte is the county seat, homeowners are failing to keep their homes despite efforts by the state and nonprofits to link them to their lenders and negotiate affordable payment schemes.
In February this year, 940 households received foreclosure and pre-foreclosure notices, an 82-percent jump from 517 notices filed in February 2009 and a 17-percent increase from 804 notices filed in the previous month.
Last year, foreclosure postings in Mecklenburg reached 12,769, the highest number ever posted by the county."


"In the first 2 months of this year, foreclosures in Charlotte and in other parts of Mecklenburg totaled to 1,744 filings, a whopping 95-percent jump from total filings in the same two-month period in 2009."
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Old 03-05-2010, 04:02 AM
 
4,010 posts, read 9,644,137 times
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Goodness, there is a $7M property in downtown on that list. Must be one of the penthouses or that building where there is one condo/floor.
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Old 03-05-2010, 04:09 AM
 
161 posts, read 284,947 times
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I'm surprised they didn't include Union County in the article. It'd be interesting to see the numbers.
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Old 03-05-2010, 05:56 AM
 
314 posts, read 454,353 times
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Quote:
Originally Posted by lumbollo View Post
Goodness, there is a $7M property in downtown on that list. Must be one of the penthouses or that building where there is one condo/floor.
Wow. I miss that Lumbollo. That is crazy 7 million dollars.
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Old 03-05-2010, 05:58 AM
 
314 posts, read 454,353 times
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Quote:
Originally Posted by Robinlp View Post
I'm surprised they didn't include Union County in the article. It'd be interesting to see the numbers.
They probably left it out on purpose. LOL. Could you imagine the numbers if it did include Union County?
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Old 03-05-2010, 06:12 AM
 
Location: Wouldn't you like to know?
9,116 posts, read 16,798,873 times
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I remember I had an argument w/a poster on c/d about the uptown market and how bad it was and was going to get (the vacancy rate is what I was talking about)....I'll never forget that he said that the market was "healthy" right now......just amazing how some people just put on the blinders and ignore what's going on....

This cycle won't end until we at least start having a net positive of jobs here. If you're out of work, most likely you won't be able to pay your mortgage.

Its going to be bad for a long time.....
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Old 03-05-2010, 06:14 AM
 
4,010 posts, read 9,644,137 times
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Quote:
Originally Posted by mmoorecharlotte View Post
Wow. I miss that Lumbollo. That is crazy 7 million dollars.
It's on there. I was going to look at the actual listing, but it turns out to be a real estate site where they want you to register in order to see the listing. Don't feel like going out and getting a 10 minute mail address to bother with them.
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Old 03-05-2010, 06:29 AM
 
314 posts, read 454,353 times
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Quote:
Originally Posted by CouponJack View Post
I remember I had an argument w/a poster on c/d about the uptown market and how bad it was and was going to get (the vacancy rate is what I was talking about)....I'll never forget that he said that the market was "healthy" right now......just amazing how some people just put on the blinders and ignore what's going on....

This cycle won't end until we at least start having a net positive of jobs here. If you're out of work, most likely you won't be able to pay your mortgage.

Its going to be bad for a long time.....
Jack,

You mean your not drinking that real estate recovery kool aid like some on here? I have always respected your posts because you have called it like you have seen it.
It's easier for people to just bury their heads in the sand than to face the reality of what is happening.
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Old 03-05-2010, 06:34 AM
 
314 posts, read 454,353 times
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Quote:
Originally Posted by lumbollo View Post
It's on there. I was going to look at the actual listing, but it turns out to be a real estate site where they want you to register in order to see the listing. Don't feel like going out and getting a 10 minute mail address to bother with them.
Lumbollo,

I found this one that has one listed at "only" 5 million dollars. When I say this one, I mean the condo building, because there are 20 units for sale at that price if I am reading it correctly.

230 N. Tryon Street
#779302
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Old 03-05-2010, 06:52 AM
 
4,010 posts, read 9,644,137 times
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I have to correct myself. That $7M listing is on New Bern St. which is in South End. Can't imagine what that might be unless it is property that was going to be developed. My guess is that it isn't worth close to anywhere near that now.
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