Home Foreclosures Doubled in September

[fencerider2]

Ok lets blame all of this on investors, that will make the RE bulls feel better. But the facts are, RE is in for a big downward plunge over a long period of time with a slow recovery after the bottom.




http://www.bloomberg.com/apps/news?pid=20601087&sid=ahk5Y..105gQ&refer=home

Oct. 11 (Bloomberg) -- U.S. home foreclosures doubled in September from a year earlier as subprime borrowers struggled to make payments on their adjustable-rate mortgages, RealtyTrac Inc. said.

There were 223,538 foreclosure filings last month, including default and auction notices and bank repossessions, the research company said today. California had the most with 51,259 and Florida was second with 33,354. The national foreclosure rate was one for every 557 households, according to RealtyTrac.

Foreclosures are deepening the U.S. housing recession by pushing more homes onto a market where sales and prices are dropping. The glut of unsold homes makes it difficult to sell or refinance without losing money. As many as half of the 450,000 subprime borrowers whose mortgages will re-set through November may lose their homes because they can't afford the higher payments, according to a report by Credit Suisse Group.

[Joe]

Funny... I guess it's all about how one displays the data they read.... :roll:


NEW YORK (CNNMoney.com) -- The number of foreclosures across the country dropped in September, falling 8 percent from a 32-month high in August, according to a regular monthly survey.

Delinquencies and defaults fell to 223,538 filings, according to the latest data from RealtyTrac, an online marketer of foreclosure properties.

RealtyTrac also reported that nationwide numbers were down in all foreclosure categories, which include default notices, auction sale notices and bank repossessions, with 39 states reporting decreased activity.


http://money.cnn.com/2007/10/11/real_estate/reclosures/index.htm?postversion=2007101108

[Scott]

I posted some localized foreclosure info about a month ago, should have a update to it soon.

[fencerider2]

Funny... I guess it's all about how one displays the data they read.... :roll:




http://money.cnn.com/2007/10/11/real_estate/reclosures/index.htm?postversion=2007101108


So its down 8% from the previous month, but it fails to mention foreclosures are still up 99%.


Also you failed to mention that Florida moved from number three into second place in foreclosuers. Stop trying to spin straw into Gold, lots of people like you are trapped in upside down homes.






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[Scott]

So its down 8% from the previous month, but it fails to mention foreclosures are still up 99%.


Also you failed to mention that Florida moved from number three into second place in foreclosures. Stop trying to spin straw into Gold, lots of people like you are trapped in upside down homes.

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Why do you keep up with it ? Seriously ?

So we moved up, we had the second busiest RE market over the last 5 years I would think that would go hand in hand with more foreclosures would it not ?

Who cares if others are trapped in upside down homes ? It was their decision and anyone can play Monday morning QB.

Get back to the informative financial stuff or something, this horse is dead.

http://content.ytmnd.com/content/1/0/3/1038943d6707ee933a1d08540243c872.jpg

[corey r.]

I like seeing these kinds of threads. Its a nice change of pace from the "Fence riders better buy now, or you will only end up paying more..." threads Ive been seeing since 2002.

[HybridSS]

So its down 8% from the previous month, but it fails to mention foreclosures are still up 99%.


Also you failed to mention that Florida moved from number three into second place in foreclosuers. Stop trying to spin straw into Gold, lots of people like you are trapped in upside down homes.






.

Its the trend that counts most. Rising...or falling? When you buy or sell a stock....do look solely at what is was last year at this time? Of course not...its all about where its CURRENTLY headed.
Now I am certainly not saying housing is headed up....but I still dont see blood in the streets yet either:lol:

BTW...just today I got a homeowners policy that saved me $1000 a year and my taxes went down $300. That was a nice little surprise today.

If ole Charlie could get some more action from the Insurance people and the tax people with some REAL changes....that could be enough to start the swing or atleast keep things static. Not that I am really holding my breath on any of that though.

[Treysdad]

Foreclosure? Not something I am concerned with. Hurricane damage? Yeah, that scares the shit out of me because I opted to not renew my homeowners this year. Hopefully I can make it another 6-8 weeks and be in the clear until next summer at which time I'll purchase another policy.

[XtremeVision]

Foreclosure? Not something I am concerned with. Hurricane damage? Yeah, that scares the shit out of me because I opted to not renew my homeowners this year. Hopefully I can make it another 6-8 weeks and be in the clear until next summer at which time I'll purchase another policy.

You dont have regular homeowners insurance?

If you dont, I am sure your mortgage company will force place it on you pretty soon at about 4x the normal cost.

[Serbonze]

Foreclosure? Not something I am concerned with. Hurricane damage? Yeah, that scares the shit out of me because I opted to not renew my homeowners this year. Hopefully I can make it another 6-8 weeks and be in the clear until next summer at which time I'll purchase another policy.

Why wouldn't you have homeowners insurance?

[Treysdad]

You dont have regular homeowners insurance?

If you dont, I am sure your mortgage company will force place it on you pretty soon at about 4x the normal cost.

No I don't have regular homeowners. There is no Mortgage company to force anything :mrgreen:

And for the record, mortgage companies don't always hike up the rates when they purchase a policy for a client. Once upon a time, I was required to have a flood ins. policy. I purchased one for just under $300. The next year I failed to purchase one and my mortgage company purchased me one for like $30 more than I had paid the previous year. I let their policy stay since it saved me time and effort getting my own.

[fencerider2]

Why do you keep up with it ? Seriously ?

So we moved up, we had the second busiest RE market over the last 5 years I would think that would go hand in hand with more foreclosures would it not ?

Who cares if others are trapped in upside down homes ? It was their decision and anyone can play Monday morning QB.

Get back to the informative financial stuff or something, this horse is dead.

http://content.ytmnd.com/content/1/0/3/1038943d6707ee933a1d08540243c872.jpg


The horse will never die, its a reminder to all who pumped the market and said prices will never go down.





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[Scott]

The horse will never die, its a reminder to all who pumped the market and said prices will never go down.

.


The horse is in the bottle Jim, it's dead. :D

I guess us old dudes are the only ones up early on a Sunday morning. :lol:

[fencerider2]

The horse is in the bottle Jim, it's dead. :D

I guess us old dudes are the only ones up early on a Sunday morning. :lol:


Scott if a new house sold for 311k in July 03 what is the real value today, not using fantasy pricing.

No improvements, just normal appreciation.

[Scott]

Scott if a new house sold for 311k in July 03 what is the real value today, not using fantasy pricing.

No improvements, just normal appreciation.



Location ?

Amenities ?

CDD or HOA ? If so how much ?

School ratings ?

Upgrades ?


Just like trying to peg everyone that was pro RE over the past many years there is no generalized one size fits all answer for everyone.

[fencerider2]

Location ?

Amenities ?

CDD or HOA ? If so how much ?

School ratings ?

Upgrades ?


Just like trying to peg everyone that was pro RE over the past many years there is no generalized one size fits all answer for everyone.



Amenities ? club house pool

CDD or HOA ? If so how much ? HOA $39 month CDD & Taxes $7566

School ratings ? Land O' Lakes High ( yuk ) Oakstead Elementary ( A )

Upgrades ? none

[Scott]

Amenities ? club house pool

CDD or HOA ? If so how much ? HOA $39 month CDD & Taxes $7566

School ratings ? Land O' Lakes High ( yuk ) Oakstead Elementary ( A )

Upgrades ? none


Give me a address here Jim. I can not do a CMA on a imaginary home, to many variables.