Comments on: Fueled by Job Losses, Foreclosure Rates Remain High

By: Geoff@San Diego Real Estate

Geoff@San Diego Real Estate — Thu, 30 Jul 2009 05:28:54 +0000

I can confirm that there is still a shadow looming over San Diego with thousands of foreclosures that haven’t yet hit the market. We’re wondering where this “shadow inventory” has gone. Inventories are very tight, with only around 7,000 houses for sale in San Diego right now, versus more than 20,000 in the doldrums of late 2007 and early 2008. Rumor has it that the banks will let them all drop in September or October, which would be just like present-day bank management to do something like that. We’ve seen a genuine rebound in the San Diego real estate market in recent months and prices have been rising. There is heavy demand and low inventory. Buyers are competing hand over fist for foreclosure properties and overbidding most of the foreclosures for sale in San Diego that are priced in the super-conforming loan limit of $679,500. If the banks dump their inventory in bulk then it will undercut the confidence that has made the start of our recovery possible. I sure hope they release the foreclosure inventory in a gradual, sensible way.
Geoff@San Diego Real Estate´s last blog ..San Diego Pros Discuss Foreclosures

By: Augusta GA Homes For Sale

Augusta GA Homes For Sale — Wed, 22 Jul 2009 12:38:51 +0000

The current administration is talking a lot about creating jobs. If they can do this many people may actually purchase these foreclosed homes. With job security and a little money in the bank, foreclosed homes start looking appealing. The tide could turn – but I guess it all starts with jobs.

By: Cary NC Real Estate

Cary NC Real Estate — Wed, 22 Jul 2009 06:23:00 +0000

We have done pretty well in terms of unemployment in Raleigh as well (when compared to other parts of the country). Still, it is disheartening to know that unemployment is still so high throughout the country.

By: Skip

Skip — Tue, 21 Jul 2009 13:52:11 +0000

Here is Saratoga Springs we have managed to keep unemployment low. We are aiming for less than 3.5% by the end of the year and are currently at 4.1%. This has been achived through local initiatives and a close-knit community that looks after each other.

By: Charles@Las Vegas Real Estate

Charles@Las Vegas Real Estate — Sun, 19 Jul 2009 01:43:15 +0000

Las Vegas was (and is) pretty hard hit with foreclosed properties. People are buying them up a little faster than they are going into foreclosure the last few months. Hopefully that trend will continue here.
Charles@Las Vegas Real Estate´s last blog ..Las Vegas Housing Market: Foreclosures Down, Sales Up

By: Kelli@Breckenridge Realtor

Kelli@Breckenridge Realtor — Fri, 17 Jul 2009 21:03:35 +0000

It’s actually a great time for oppurtunity, through all this mess there is a TON of oppurtunity. Besides there were no fundamental basics invovled.

By: Mike Taylor@Indianapolis Real Estate

Mike Taylor@Indianapolis Real Estate — Thu, 16 Jul 2009 09:45:21 +0000

I think you are right, we are not out of the woods yet. I think the media got tired of talking about it, but we still have some work to do to get over this.

By: Ventrilo

Ventrilo — Wed, 15 Jul 2009 22:51:16 +0000

Who wants to take out a mortgage in this climate? There will need to be some very good rates and incentives before numbers start to pick up. Until then, we have to ride it though.

By: Sundream Estate

Sundream Estate — Wed, 15 Jul 2009 05:00:20 +0000

The federal stimulus money, different tax credit and other thing has helped the market to not collapse totally. Its take time to get the world economy on feet again and create new jobs. I see it over here in Spain that the buyer is slowly coming back and the price don’t sinking more.