Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Florida > Orlando
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 03-11-2008, 09:11 AM
 
1,475 posts, read 2,555,613 times
Reputation: 670

Advertisements

OK, I was about ready to buy a home and the new numbers showed an aggressive recession has taken hold of the U.S. economy. Even the Fed can't do enough to make the economy stable.

So, now it appears FL home sellers have taken a "Forget it, let the bank take it, I'm done." attitude.

Is everything gonna' be foreclosed on?
Reply With Quote Quick reply to this message

 
Old 03-11-2008, 12:24 PM
 
Location: Orlando, FL.
24 posts, read 133,151 times
Reputation: 16
I don't think so. The bulk of foreclosed properties are the ones which owners chose crazy loans, which interest rate adjusted.
Reply With Quote Quick reply to this message
 
Old 03-11-2008, 01:55 PM
 
Location: Saint Cloud, FL
12 posts, read 46,468 times
Reputation: 13
Default Good time to Buy

I agree with John, many of the homes at least in our area (Osceola, Orange) county are homes that many were purchased by "investors" when the market here was so crazy that they thought they would make a quick profit by turning it and selling quickly. Mortgage companies were going crazy making loans with 100%, 105%, interest only, variable rates, etc. When market conditions changed many investors were trying to rent, that didn't work very well so they are walking away. Not saying all of the "pre-foreclosures" and "short sales" are investors but many are. The other "owner occupied" got caught up in those crazy loans as well, market values have dropped and now property values in many cases are less than what people owe so they are trying to do "short sales" working out arrangements with the banks to agree to sell at market value and "forgive" the deficiency balance. So people are trying to work out things and not just "walk away".

I believe now is a good time to buy while rates are low and inventory high at least in our area (Central Florida).
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Florida > Orlando

All times are GMT -6. The time now is 01:21 PM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top