[Sunnydee]

Originally Posted by Marc45

I need an investor to buy my house and rent it back to me. I need to rent for a couple of years to stabilize my financial situation.I going foreclosure in a couple of months. If anyone interested please PM me. Thanks.

Dear Marc45,
If you are serious you need to tell people where your property is located, what the price is, what rent you are prepared to pay, pictures of the property, etc.

[SKB]

Originally Posted by nychiefsfan

Here's a little more from the village idiot:

Nationwide, existing-home sales this year will be the fifth-highest in history, said Lawrence Yun, National Association of Realtors senior economist.

"Although sales are off from an unsustainable peak in 2005, there is a historically high level of home sales taking place this year -- a lot of people are, in fact, buying homes," Yun said.

Expert: Local economy thriving : Corpus Christi Local Business | Caller-Times |

What a joke, the lengths these people will go to try to pretend that the titanic is not sinking. Yup, it's the best market since 1929.

[MyHomeIsInOcala]

Originally Posted by maslozhir

Would you please tell me what BPO stands for ?
(sorry it's my second lenguage )

BPO = Broker's Price Opinion and no two (on the same property) are ever alike.

BPO is just a fancy term for current market value

All BPOs and market value reports should be re-done every 60 days or less, depending on the current market conditions

[maslozhir]

Originally Posted by MyHomeIsInOcala

BPO = Broker's Price Opinion and no two (on the same property) are ever alike.

BPO is just a fancy term for current market value

All BPOs and market value reports should be re-done every 60 days or less, depending on the current market conditions

Thanks a million every day I learn something new

[MyHomeIsInOcala]

Originally Posted by Marc45

I need an investor to buy my house and rent it back to me. I need to rent for a couple of years to stabilize my financial situation.I going foreclosure in a couple of months. If anyone interested please PM me. Thanks.

I do not know if this will help, but here is a copy of the email I got today from HomeSteps:


October 17, 2007
Preserving Home OwnershipForeclosure Prevention Resources For Real Estate Agents
And Their Clients

The Ad Council Resources

• Anti-Predatory Lending: www.adcouncil.org/default.aspx?id=25
• Ad Council – Foreclosure Prevention Ads: http://www.adcouncil.org/default.aspx?id=435

HUD Resources

• HUD-Approved Housing Counseling Agencies: http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm

National Foreclosure Avoidance Initiative:

• www.freddiemac.com/news/archives/afford_housing/2006/20060508_foreclosure.html

NeighborWorks®

• NeighborWorks Center for Foreclosure Solutions: www.nw.org/network/neighborworksProgs/foreclosuresolutions/default.asp

Freddie Mac Resources

• Avoiding Foreclosure for Borrowers: www.freddiemac.com/avoiding_foreclosure
• Avoiding Foreclosure Promotional Materials: www.freddiemac.com/service/msp/avoid_foreclosurekit.html
• Anti-Predatory Lending Campaign: http://www.dontborrowtrouble.com/
• Responsible Servicing Guidelines: www.freddiemac.com/service/msp/responsible_practices.html
• CreditSmart® Curriculum: http://www.freddiemac.com/creditsmart/
• Our Role State-by-State http://www.freddiemac.com/corporate/about/what_we_do/state_by_state.html
• The Learning Center for Community Outreach: http://www.freddiemac.com/learn/community
• Community Programs: www.freddiemac.com/corporate/about/how_we_help/community.html
• Protecting Consumers: www.freddiemac.com/corporate/about/how_we_help/protection.html

[seeriously]

Originally Posted by nychiefsfan

The realtors, the people who used their homes as ATM machines and the people who bought during the bubble will beg to differ

The prices HAVE to drop to a point where people can afford to buy homes, period.

Throughout history, there have always been sects of people who could not afford homes. That's just life.

[sillynilly]

This is bigger than not being able to buy a home .This is about over priced homes.

[HockeyMom72]

I will give you two real life examples. We looked at one house 3 months ago which was listed at $375,000. TODAY they lowered the price to $299,000. It has been on the market since last April when it was listed at $425,000.

The condo where we live. There are two units trying to sell for $244,00 and $234,000. One other seller lowered his, again just today, from $154,000 to $140,000. Do you seriously think those sellers in the $200,000 range are going to be able to sell anywhere NEAR $200,000? There are also two other people who are going to list their units soon also. They bought them when the condo was built in 1973 for $40,000. Now, let's see. If they list for $125,000, that still gives them a nice profit from the $40,000 they originally paid. Where does that put those other sellers who bought in the high market of 2001+? SCREWED.

The other MAJOR problem with all this is the fact that there simply are not enough BUYERS out there anymore. It is as dead as a doornail with prices failing through the basement and still nobody buying. We get that a friend who is a real estate broker. She hasn't sold anything in over a year.

[hiknapster]

Originally Posted by verobeach

Throughout history, there have always been sects of people who could not afford homes. That's just life.

So? And there is a portion of people that are not stupid enough to buy an overpriced home. There is a portion of people that know enough not to get in over their head.

Then there is a portion of people that are greedy, don't research, and now are in huge trouble.

That's life.

[Sunandsand]

We have been tracking our old neighborhood, Jupiter Farms (33478 zip code). We sold three years ago.

2 years ago prices were so high that not one house was listed for under $300,000. 9 months ago 3 houses were listed for under $300,000. 3 months ago 10 houses.

Today? I just checked and 27 houses listed for under $300,000, not including all the for sale by owners! And hardly anything is selling, even though prices are crashing.

We have gone from denial to panic now. The bottom is so far away you can only imagine how low prices will go.