Re: O.T. A Disheartening Time. . .
Posted by DeniseA/socal on March 26, 2007, 10:13 pm, in reply to "O.T. A Disheartening Time. . ."
71.254.183.6
Two houses on my block alone are up for sale as repo properties. I don't know that it's the fault of the lender, though. They were bought at the peak of the market when prices here were way out of hand (100% jump in price within 2 years). I know one was 100% financed interest only.
I think the buyers were hoping the prices would continue to rise and then all of a sudden nobody bought anything and they were stuck.
--Previous Message--
: I was in a particular city today
: (one of my service areas), and it
: was astonishing to see so VERY
: many "For Sale" signs. On
: one street
: alone I counted approximately twelve
: homes!
:
: I was in that area about ten days
: ago.
: Although there were the usual
: "For Sale"
: signs sprinkled about, it was nothing
: like I saw today.
:
: On just about every block, there were
: three or more signs. What makes this
: particularly interesting, is that
: many of
: these properties were also marked
: "just
: reduced" or "priced for
: quick sale".
:
: I know this area very well and
: remember
: a few years ago, when it was a
: seller's
: delight! During that time, many of
: these
: homes, (in my opinion) though very
: nice,
: were price Much too high.
:
: Now it seems as though these home
: can't
: even be given away!
:
: Though I do not have proof (without
: actually researching the county
: recorder's office), I suspect many of
: these homeowners are victims of the
: Sub-prime lending and/or
: "creative
: financing" fallout.
:
: I wonder how many of these Sub-Prime
: Lenders and Mortgage Brokers are
: having
: to face the same situation? Probably
: zero
: (if that much).
:
: [And yes, I know that many of these
: lenders etc. . .are
: "closing-shop", but
: I am very sure, that THEIR
: residential
: properties (for which they are
: actually
: living) are not facing foreclosure.]
:
: It is really a disheartening time for
: many.
:
:
: Pam
:
:
:
:
:
:
:
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Message Thread:
- O.T. A Disheartening Time. . . - Pamela March 26, 2007, 5:09 pm
- Hey Pam:) My take on the for sale signs.. - FlaMac March 28, 2007, 5:56 am
- It is the same thing in Las Vegas... - Glena/NV March 27, 2007, 12:30 pm
- Re: O.T. A Disheartening Time. . . - DeniseA/socal March 26, 2007, 10:13 pm
- Give up the whining and go back to - Becca/FL March 26, 2007, 9:34 pm
- Re: O.T. A Disheartening Time. . . - Shoshana/AZ March 26, 2007, 6:26 pm
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