4 replies to this topic

[Rogerdodger]

Sheriff's sales surge again.

I thought the last surge of 27 pages of foreclosed homes was an anomaly.
But this week goes up to 36 pages.

Clarification: It is NOT 36 pages forclosed on in one week.
The list is for Feb 20th thru March 27th.

If I counted correctly, 61 homes were foreclosed this week.

Edited by Rogerdodger, 20 February 2007 - 10:46 PM.

[nimblebear]

I suspect there are a lot more of these situations that we just don't hear about...at least not yet. Also, Housing starts have dropped big time, but there are still a lot of unfinished homes in the pipeline. When these hit the inventory, it'll start to make headlines.

[Data]

You can also search for foreclosures with realtytrac.com. The raw number of bank owned homes, homes up for auction, and homes in preforeclosure are provided at the top.

[Rogerdodger]

I have only watched these for a few months so I have little to compare. The conventional wisdom is that ARMS are going to start smacking many folks. I understand that many of the sub-prime borrowers don't even make the first payment. One home I was watching was reclaimed by the plaintiff (original lender) at a price higher than I would have paid. I can remember the '70's when whole neighborhoods went vacant. One American Airlines mechanic I know bought over 100 of them at less than $5k each. He then rented then out on Section 8 and the "government" paid for people to live in them. Ahh. The good ole days.

Edited by Rogerdodger, 20 February 2007 - 10:40 PM.

[briarberry]

Florida - sounds like they're still building Miami just as property prices start to fall

I was there this weekend for the Miami Boat Show. From Bayside, we were able to count more than 20 cranes. These obviously were condos as I don’t see much market in office buildings with balconies. It is truly a bizarre landscape and although many have mentioned it on this blog, I was in total disbelief until I saw it for myself.
http://thehousingbub...p=2368#comments

http://forum.skyscra...d.php?p=2353125

Pictures taken 9/25/2006

Edited by briarberry, 21 February 2007 - 06:29 AM.