Dont give up...look at the media said and... (foreclosed, investment, mortgages)
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Here something I read at MSN forum
Taken from WindyPaul1
Quote:
Negative Media: Twenty-five percent of the subprime mortgages in the U.S. are not performing.
Fact: Subprime mortgages represent 25 percent of all mortgages in the U.S. Of these, 75 percent are performing. This means that only 6.25 percent of the total loans are NOT performing (25 percent of total loans that are subprime) X (25 percent not performing) = 6.25 percent.
Negative Media: "Real Estate Sales Slip 20 Percent From 2006."
Fact: 2007 Real Estate Sales: Fourth Best Performance Since 1997. Prices have increased over the last 10 years and demand for FHA loans is up substantially. Places all over the country are reporting declines in listing inventories. In fact, some are still reporting multiple offers.
Negative Media: Prices are down in 15 states.
Fact: Prices are stable or increasing in 35 states. To find the percentage where property values are flat or unchanging, subtract 100 percent minus 30 percent. In the example above, prices are stable or are increasing in 70 percent of the states.
Negative Media: "Owners Face Massive Losses As Values Plunge By Over 4 Percent In Just 10 Months."
Fact: "Property Values Soar 300 Percent Over The Last Nine Years." With the exception of a few states that have experienced massive job losses in the manufacturing sector, most areas have seen a substantial increase in property values. All markets go up and down. The larger and quicker the run-up, the more likely it is that there will be a downturn. Nevertheless, real estate continues to be a fabulous investment, especially when it comes to the difference between owning and renting. At the National Association of Realtors' mid-year meeting in May, Lawrence Yun, the chief economist for NAR, shared the following data from the Federal Reserve: "The median wealth accumulation for renters from 1995 to 2004 was $4,000. The median wealth accumulation of a homeowner was $184,000."
Negative Media: Foreclosures are Up 100%
Fact: In the Chicagoland area foreclosure filings have dropped to a two year low.
Please verify the facts not sure if is completely 100% true but ....dont give up ha
Here something I read at MSN forum
Taken from WindyPaul1
Please verify the facts not sure if is completely 100% true but ....dont give up ha
I will get in before the NAR bashing begins.
I am not going to say it is a good market right now but it is comparable to many of the other years before the big run up.
Another note in regards to foreclosures. The last few years there were many more 80/20 loans being processed. This was needed for the 100% financing.
The affect of this is that when foreclosure figures come in, those people that had 80/20 loans have 2 foreclosure filings. That is why when you check the numbers for certain areas you will see 100 filings on 65 properties. Yes there are more properties being foreclosed but the double foreclosure on single properties inflates the numbers even more.
The reality here in Lompoc Ca is hardly anything is moving. Many of the homes
we have viewed are foreclosure,or short sales or the people have left or
moved and left an empty home to sell. Its bad here, and thats a fact
The reality here in Lompoc Ca is hardly anything is moving. Many of the homes
we have viewed are foreclosure,or short sales or the people have left or
moved and left an empty home to sell. Its bad here, and thats a fact
Greenchili
fact is CA home way way overprice...lompoc ca, population 40k+ ...3hrs from LA....it's a small town...you guys dont even have a mall...next town over Santa Barbara or something...
p/s how's the wireless network working there?
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