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 4 of 4)
61. I am a Century 21 realtor in the Ft. Worth, Texas area and our market is doing
pretty good here. However, I agree that there are some great buys on
foreclosures right now. If anyone is interested in checking out what
is available in this area...let me know. Would love to see what we
can find for you. 817-441-3600 or BridgettSmithC21@aol.com
Posted at 2:21AM on Aug 14th 2007 by Bridgett
62. I believe there's so much debt today and so many people are in need of cash!
If you have a Note to sell Realestate Notes, Business Notes......any Notes you need to sell for some Quick Cash come visit this site!
http://www.cash4cashflows.com/svosilla
Posted at 2:42AM on Aug 14th 2007 by Susan Vosilla
63. Look it is FAR FAR TO EARLY to be buying into this market. Prices down in small single digit percentages? Wait till there is blood in the streets and they are down 40%!! Dont buy, the bottom isnt even near. BusinessWeek recently quoted someone saying that prices at the peak a couple of years ago might not be seen again for 10-15 years. WAIT, DONT BUY!!
(I have no financial interest in the housing market one way or the other)
Posted at 3:26AM on Aug 14th 2007 by David
64. Whenever commissions are involved, blood-sucking leeches are there amongst them.
Posted at 4:01AM on Aug 14th 2007 by web jones
65. How is the housing market in Charleston, S.C.
Posted at 5:30AM on Aug 14th 2007 by Grady Sinclair
66. I did not receive a password.
Posted at 5:35AM on Aug 14th 2007 by Grady Sinclair
67. Housing prices in Myrtle Beach, S.C.
Posted at 5:36AM on Aug 14th 2007 by Grady Sinclair
68. Housing prices in Myrtle Beach, S.C.
Posted at 5:38AM on Aug 14th 2007 by Grady Sinclair
69. Please believe me that all you bankers and realestate people are are scammers. Don't believe any of them. They lie lie lie!!! Keep your money in you pockets. Let them all suffer by not bying any more houses. Once you weed all the little scammers out, may with a lawer on your side you will be able to get an honast deal from one of the bigger bank or realestate scammers that survived. Remember everyone want to get a hand in your wallet so keep a good grip on it. They are hurting to sell you forclosed houses, but when you look, they are right in your wallet again trying to get credit card info to release this information to you. Scam Scam Scam after Scam!!! Remember if they try to pull money from you wallet to provide you with information that should be free.. move on, it's a scam. Don't be another victom like all those other idiots that got prayed upon and scammed. All those foreclosures tell you that.
Posted at 6:11AM on Aug 14th 2007 by Joe
70. Okay, c'mon...First off! People! You must remember this...THE BANK DOES NOT CARE ABOUT YOU! Understand? The typical loan officer will sell you any loan program that offers them the most commission points (1% of loan amt.). Even if it hurts you financially in the future. But, you gotta deal with them if you want the loan. HEAR THIS!! It is up to you to EDUCATE yourself about the business if you expect to yield profit and succeed. You must learn the verbage and understand the banking process...otherwise, it'll drive the average person crazy. i say "average person" because this business is NOT for the faint of heart. Any entrepreneur in this business will tell you that it is feast or famine. You must learn the "language" or trust someone who speaks it...fluidly. Im an investor, loan officer, and contractor. I finance, purchase, reconstruct and refinance my own properties. I work with my best friend. I buy foreclosures and REO's.
Secondly! Commentor #5?? What are you talking about???? Foreclosures are the perfect buy! All good investors buy foreclosed property. It yields the highest POSSIBLE profit margin! Foreclosures, REO's, probate deals...they're golden! Your real estate agent didn't buy any foreclosures because they're just as clueless about the secondary market as the next person. It's a different game, a different process with a different approach. Real estate agents aren't used in the secondary market, so the average agent doesn't know what to do with them. LAWYERS know what to do with them!!!...but they're not gonna tell you that!
Commentor #6???? Realtors are helpful if you don't know what you're doing. Judging by your statement...Sounds like you don't know what you're doing? Get a realtor!!!
LISTEN PEOPLE...the more you learn about the banking business...the more you will learn about real estate. Foreclosing properties and discounted stocks are all biproducts of the banking industry!!! Learn the language and understand how to formulate intellegent strategy and implement tactics. OR you can keep working your 9-5 until your 60...if you're not already there!!!
Posted at 1:24PM on Aug 14th 2007 by THE PEOPLES CHAMP
71.
Hello, Im a Loan Officer in the State of California, in Los Angeles to be exact. I only do loans and I have been running into people who want to Sale or are losing their home. If there's a realtor outthere who I can network and exchange these leads email me at okidog822001@yahoo.com Thanx or if anybody needs a loan or refinance email me.
Posted at 1:41PM on Aug 14th 2007 by Elvis
72. Hi, I am trying to find a place in Sulphur or Davis OK area, or even Ada. I have horses and need a property that has some space. Does anyone know of anything? If someone is in trouble, I could help them out so they don't have to go through the foreclosure process.
Thanks
Posted at 1:49PM on Aug 14th 2007 by Linda
73. I am a realtor w/Coldwell Banker Hunter in Geneva Ohio by lake Erie and I will tell u that there are some awesome buys at prices that are just unbelieveable PRICES HAVE NOT BEEN THIS LOW IN A LONG LONG TIME,houses with acreage, COMMERCIAL. give me call me at 440-466-8831 or e-mail dancesen@aol.com and I will show u whats available.
Posted at 2:57PM on Aug 14th 2007 by Dan Cesen
74. This market is going to be rough going for awhile. I help buyers/sellers evaluate deals and ways to finance deals. I help realtors/lenders get deals and I can tell you, being in the trenches, this may just be the beginning.
REC
Posted at 10:33PM on Aug 14th 2007 by RE CONSULTANT
75. I work for CurrentForeclosures.com, a foreclosures site and have seen a huge increase in the number of foreclosures in the past 7 months. I believe it is a combination of not only sub-prime and ARM mortgages, but also the high number of people who have gotten loans with interest rates at an all time low... in addition to the rapid depreciation in some areas and the difficulty some are experiencing in selling their homes.
Posted at 11:36AM on Aug 17th 2007 by TSmith
76. IF YOU HAVE A COMPUTER , YOU DO NOT NEED A REALTOR. THERE ARE THOUSANDS OF WEB-SITES THAT WILL WALK A BUYER AND SELLER THROUGH THE PROCESS. ALL YOU NEED IS A TITLE COMPANY. WHEN WE PURCHASED OUR HOME RECENTLY, I STUPIDLY SOUGHT OUT A REALTOR, I WAS THEN DOING ALL THE WORK MYSELF. THERE WERE NO FREE RIDES OR LUNCHES, WHAT A CROCK. I LEARNED EVERYTHING I NEEDED TO KNOW AS WELL AS MANY THINGS THE REALTOR DID NOT MENTION, HMMM WANTED A QUICK SALE??...I FIRED THE COMPANY...ONE OF THE LARGEST IN THE COUNTRY, ORDERED MY OWN INSPECTIONS, APPRAISILS, DID MY OWN NEGOIATING AND CAME OUT FAR BETTER THAN I WOULD HAVE WITH THE SO CALLED "REALTOR" AND SO DID THE PEOPLE WE BOUGHT FROM. I WOULD NEVER USE OR RECOMMEND USEING A REALTOR TO ANYONE, EVEN IF I DISLIKED THEM. AS FOR THE WEEPY..WE HAVE TO GIVE SOOO MUCH, GIVE ME A BREAK, PHONE CALLS, GAS, LUNCHES...IF YOUR JOB IS SO DEMANDING, GO WORK AT DISNEY, THEN SEE WHAT CUSTOMER SERVICE IS REALLY ABOUT. YOU PICKED THE PROFFESSION, SO LIVE WITH IT. HOWEVER AS I MENTIONED EARLIER, ALL YOU NEED IS A COMPUTER AND INIATIVE AND YOU WILL FIND YOUR HOME AS WELL AS YOUR FINANCING.
BEEN THERE DONE THAT
(WITHOUT A REALTOR)
Posted at 3:03AM on Aug 31st 2007 by BUYER BE WARE
77. Some realters are blood suckers , some are not. The one good thing about this housing market is the blood suckers will not last. I hope it will continue like this until only agents with knowledge are left. People you can sell your house yourself(FSBO)if you educate yourself on how to do it. I have sold three homes myself and saved thousands of dollars. The info is out there and do not let an agent tell you that you cannot. I do not feel sorry for people who think the can get a home loan for 1% and not think that something is wrong when the prime rate is much higher than that. coolhead, FL
Posted at 12:10AM on Sep 7th 2007 by coolhead
78. Does Realtor = Blood sucking leach?
Posted at 1:54AM on Nov 30th 2007 by tmshirley