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foreclosure on homes
Posted by: hmm ()
Date: September 26, 2007 10:37PM

As I previously posted several months back many adjustable rate loans will fall due in late September into October. Channel 9 had a report tonight on the company handling many of the homes.
http://www.hudsonandmarshall.com/auctionInfo.asp?auctionName=Over+300+Homes+throughout+Washington+DC%2C+Virginia%2C+Va%2E+Beach+and+Maryland%21&auctionID=370

No surprise many are in less than desirable neighborhoods like Woodbridge. Some are pretty good size homes I guess from people who just had to have a McMansion but had no way of paying for it.

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Re: foreclosure on homes
Posted by: Jester ()
Date: September 26, 2007 10:46PM

There was a home building company in Woodbridge that dropped their new home prices $75,000 a week or two ago to try to get houses to sell.

They are now saying the housing bust may last until next Summer with house prices contuning to drop.

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Re: foreclosure on homes
Posted by: allivant ()
Date: September 26, 2007 10:49PM

I think we'll be ok next spring.

vaburbia.com

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Re: foreclosure on homes
Posted by: CaneCorsoLover ()
Date: September 26, 2007 11:40PM

The bust is going to last much longer - my own home has dropped about 50k in value from last year - it will be years before anyone recovers. They are not writing any crazy loans any more. People will have to be happy with less.

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Re: foreclosure on homes
Posted by: allivant ()
Date: September 28, 2007 11:04AM

I was at a convention where the founder of ReMax believes that the market will settle and return to normal. What's normal? Like 7% annual appreciation, not 20% like we've seen in recent years.

vaburbia.com

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Re: foreclosure on homes
Posted by: hmm ()
Date: September 28, 2007 02:41PM

Without getting into the illeals immigration thing all over again I think the houses in Woodbridge wouldnt sell due to the neighborhood.
You can build as nice a home as you want but if the guy next door has fifteen people in his place and ten cars on the lawn then your house just won't sell.

The big houses, Mcmansions, on the website were most likely from people who should never have gotten them in the first place or some jerk trying to cash in by flipping them. A simple supply and demand thing, plus the cost of gas, and these homes being in Stafford didnt help.

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Re: foreclosure on homes
Posted by: time machine ()
Date: February 10, 2015 09:25AM

You guys were wrong.

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Re: foreclosure on homes
Posted by: NkEe9 ()
Date: February 10, 2015 10:44AM

allivant Wrote:
-------------------------------------------------------
> I was at a convention where the founder of ReMax
> believes that the market will settle and return to
> normal. What's normal? Like 7% annual
> appreciation, not 20% like we've seen in recent
> years.


Remember, people working in real estate business always say what they want to see, not what's really happening. They are people who want real estate prices to go up ALL THE TIME. We and the rest of the world don't.

Houses in this country are generally way overpriced turkeys. Even single family houses built 20+ years ago starts from $450K in FFX, which is bulls__t.

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