With the housing market cooling off, I've been hearing more about foreclosures lately. The National Association of Realtors reported that existing and new home prices decreased by 1.1% and 2.6% respectively year over year for the second quarter of 2007.I definitely see that trend in my neighborhood. There's a house around the corner that has been on the market for almost a year. It's a nice house, but the owners haven't lowered their price. Two other homeowners in the area sought lower prices and their houses were sold in less than two weeks. I was thinking about moving this year, but I've put that plan on hold.
It's sad to read about people who are forced to foreclose because they can't afford their mortgage payments. I did a search for foreclosure real estate and most Web sites have at least 1 million foreclosure properties listed. RealtyTrac reported in late July 2007 that the number of foreclosure properties in the
I hope you're not one of the unlucky home owners who have to put your home up for foreclosure. For help in this area, search for how to avoid foreclosures. One of your options is to get a loan to help prevent your foreclosure.
On the flip side, if you are in the market for a house, then foreclosure may be a great option for you. You can search foreclosure lists for great homes across the country. Expensive homes can go for a fraction of what they are worth, such as foreclosures in Orange County. Check out AOL Real Estate and search for foreclosure homes on AOL Search to find foreclosure listings.
This month's top searched states for foreclosures on AOL Search:
1. Florida foreclosure
2. Virginia foreclosure
3. Michigan foreclosure
4. Colorado foreclosure
5. California foreclosure
6. Maryland foreclosure
7. Foreclosure in Pennsylvania
8. Ohio foreclosure
9. Georgia foreclosure
10. Texas foreclosure
See sponsored links for prevent foreclosure, help with foreclosure, foreclosure refinance.
Reader Comments (Page 2 of 4)
21. Realtors are most certainly NOT blood suckers. I am a highly professional realtor as are 99.9% of all realtors. Ever wonder who else will take you around in their vehicle, buy you lunch, give expert advice and spend countless hours helping a customer find a home and all for no pay??? We only get paid IF the customer buys. Many have you show them homes for 9-12 months and do not buy anything. Nights, weekends, holidays, we work. After the sale they call us about minor things like a sticking screen and expect us to have it fixed. Do you have any idea how many dues we pay, association fees, ad costs, desk fees and Errors & Omission insurance premiums we pay? How about gas, phone bills, no benefits, no vacation pay??? Let me tell you one has to be a dedicated person to stay in real estate. Not only do we have to worry about customers financing we are mediators between banks, title companies and relatives that are "experts" in real estate because they bought a house 30 years ago. We deal with inspectors, well and septic installers and city hall.
Before you generalize-try walking in our shoes.
JB,WI
Posted at 11:01PM on Aug 13th 2007 by JB
22. yes foreclosure if you are a pet to the realter you can by them cheap if not your bid gets turned down & they sell it to the other one for less
Posted at 11:04PM on Aug 13th 2007 by ken boyle
23. tmshirley called us a REALTOR=BLOODSUCKING LEECH? I am a respected agent in the business for over 10 years. I have a successful business with an equally successful referral business from past clients. I wouldn't have that if I were a bloodsucking leech. Like any business, you can have individuals who are not ethical or who are devoid of any morals. Most of us are professional individuals. Quite possibly, the person who called us "bloodsucking leeches" had a bad experience with one. Maybe next time you should interview prospective agents to see if they are someone you want working on your behalf. Otherwise, the "bloodsucking leech" might have thought you were the biggest a$$ to work with and couldn't wait to close your deal! Your reap what you sow!
Posted at 11:06PM on Aug 13th 2007 by tbenning
24. Guess you could say I am "LUCKY"... Katrina blew my house and business away.. however.. after 1 1/2 years of hell, I now have a 2.67 mtg. rate fixed for 30 years. Have to look for that silver lining. :)
Posted at 11:07PM on Aug 13th 2007 by lj
25. Laughing at the comments from the realtors here (or sales pitches). My advice (I've bought and sold a few homes) is don't trust any realtor ever! Especially right now. I guarantee you that every one of them is lying their ass off to sell a house in this market right now. If you have to deal with a realtor, find a friend who's had good luck and go with theirs. By the way, the "realtor posters" here that are telling you a fsbo is a bad decision are lying, and they have good reason to. There is no percentage for them to STEAL if you buy a fsbo. Trust your instinct when you are in a realtor's presence and you'll see right through them. Most of them are so low they have to look up to see the worms.
Posted at 11:08PM on Aug 13th 2007 by Josh
26. If you have a 30 years fixed would this be a bad time to sell with all the foreclosures? How is the market in Dallas, TX?
Posted at 11:14PM on Aug 13th 2007 by connie
27. Realtor does not equal blood sucking leach we have no control of the fore closures we do not finance the loan that would be the mtge. company to differnt types of business all I can do is educate clients about the industry and guide them to make the right decision in there real estate invesment. If any one is intrested or needs assistance check out my web site.
www.suzyarreguinhomes.com Thanks!
Posted at 11:22PM on Aug 13th 2007 by suzyarrguin
28. I'm an investor/realtor of many years. I can say from experience most realtors are in it for the commission. Less than 10% are really pros. Also it's a fact that there is more convicted felons in the realestate field than any other field as reported by Our own realtor magazine.
Posted at 11:24PM on Aug 13th 2007 by Bob12345
29. I'm a Realtor in Dallas TX please contact me for details! info@suzyarreguinhomes.com
Posted at 11:24PM on Aug 13th 2007 by suzyarrguin
30. I'm an investor/realtor of many years. I can say from experience most realtors are in it for the commission. Less than 10% are really pros. Also it's a fact that there is more convicted felons in the realestate field than any other field as reported by Our own realtor magazine.
Posted at 11:25PM on Aug 13th 2007 by Bob12345
31. i own RE/MAX Platinum in massachusetts everything around here is a forclosure but the market is still busy and banks are working with short sales.. and for most of the 1st time buyers the forclosure's are to much work for them to repair...need help in this aera email remaxjudy2@charter.net
Posted at 11:26PM on Aug 13th 2007 by judy
32. I HAVE to plug this great new book if you are interested in foreclosures! It's really for the serious buyer but FULL of awesome information called -Finding Foreclosures: The Insider's Guide to cashing in on this hidden market. The author is does counseling too. Here is the Amazon link.
http://www.amazon.com/exec/obidos/tg/detail/-/1599181312/ref=ord_cart_shr/002-4909234-2224813?%5Fencoding=UTF8&m=ATVPDKIKX0DER&v=glance
Posted at 11:32PM on Aug 13th 2007 by Lorayne
33. Yes, there are some good foreclosure deals out there and you need to do your homework. Realtors are there to assist buyers to make them aware of things they most likely would be unaware of. I too am a Realtor and I put in many, many hours of work for my clients, both sellers and buyers. What would happen to the consumer if all Realtors quit? We have a code of ethics we stand by. We don't just have a real estate license, although many out there do. Perhaps if Realtor Buyers Agents started charging for their time, we would be more respected a little more in that area.
Posted at 11:36PM on Aug 13th 2007 by Elizabeth
34. Forclosure sales are always open to the public at public auction. It is very easy to find information at your local courthouse. It is all a matter of public record accessible to everyone including non- Realtors.
Posted at 11:38PM on Aug 13th 2007 by jen
35. Forclosure sales are always open to the public at public auction. It is very easy to find information at your local courthouse. It is all a matter of public record accessible to everyone including non- Realtors.
Posted at 11:40PM on Aug 13th 2007 by jen
36. I am a single mother with my RE license as well as my Masters Degree but I choose to renovate houses and sell them because I am good at it, it pays the bills and I am contrbuting in a positive way to the economy. I buy repos and sell the houses at WELL below market value in order for first time home buyers be able to own a home. I also hold their hands through the process of buying and most all of them become long term friends. Just like any other service occupation, if you don't like "Realtors", go to real estate school, learn the real estate laws, and represent yourself. Learning the laws and working 50+ hours a week is the easy part. Working with someone who has never been to real estate school but swears they know everything about real estate law (and everything else) is what really sucks.
Posted at 11:41PM on Aug 13th 2007 by jen
37. LOOKING FOR A GOOD DEAL IN MEMPHIS, HAVE CASH WILL CLOSE FAST
Posted at 11:43PM on Aug 13th 2007 by E
38. I have been in the mortgage business for many years through the highs and lows. I am licensed in half of the states and have been quite successful in completing some short sales. That is not true what Corrine said about no US Bank will execpt a short sale. Just last week I completed a transaction in NJ the house was worth 280K the bank wanted 240K we got them done to 190K than finally went down another 10K to a final settlement of 180K. Everyone was very happy. As for the banks the last thing they want is someone to go into foreclosure, they lose lots of money when the house gets foreclosed. For the guy in Orange County, NY you need to start checking the local papers when they list for sheriff sale. There are many websites that will also give you foreclosure listings but will charge a monthly fee. You also have to be very careful with the condition of a foreclosure because they will be sold "as is." You can than call me at 609-294-4430(direct) 1-800-706-6671 x 4430(toll free) or email me at slyle@supmort.com. I will be more than happy to assist you with a short sale. Also anyone looking to refinance or purchase a new home please contact me. I have many great products still available even with the market changes you have been hearing about.
Posted at 11:47PM on Aug 13th 2007 by Scorr
39. Nice try JB. Sorry,can't buy the 99.9%.
Posted at 11:48PM on Aug 13th 2007 by james
40. Blood Sucking Leach person - Sounds like your the one that is a miserable, disrespectful, angry individual. REALTORS - yes I put it all in caps, because that is what I am a REALTOR, not a real estate agent and not a blood sucking leach. REALTORs work very hard for every dime they earn. As for foreclosures, I sell many, and they are a paperwork nightmare for listing realtos. We become a contractor to get bids for trashing out, repairs, lawn maintenance, we pay all the utilities, etc. Yes, we PAY and than we hope and pray the bank reimburses us. Oh yes, there are now mortgage company's filling bankruptcy and so what they owe us is part of the bankruptcy and do we get paid. NO, NO, NO. So are we blood sucking leach? Just ask yourself if were blood sucking leach.
Posted at 11:48PM on Aug 13th 2007 by p