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New York - a wave of foreclosures to hit the market?
invite response
2012 Feb 29, 2:15pm 2,951 views 11 comments
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I know...crazy right? It was almost like she'd given up. haha. I think the realtors around here are sick of the stubborn sellers who waste their time with unrealistic starting prices. I go on zillow all the time and laugh when I hit the price history section....you see a house originally listed 2 years ago with 5-6 prices cuts.
Here's an example - http://www.zillow.com/homedetails/91-Nevada-Rd-West-Babylon-NY-11704/32621762_zpid/
Listed for 300k in 2008. Probably got offers a 270 or 250 back then, but they refused because it was purchased at 420k. Now it's listed at 180k. Like holding onto a tech stock after the 2000 crash. Its never getting back to that level.
Real estate in the USA is garbage. Its a life sucking, life destroying piece of garbage. Anyone who bids up a house is a rat. A traitor to the next generation. Wanting houses to beat inflation is a sign of a sick mind. Wanting inflation to make a false stock market is a sick mind.
This nation is a nation of unearned income rentier class lunatics destroying the real value of money for their benefit.
This nation is a nation of unearned income rentier class lunatics destroying the real value of money for their benefit.
Is bellinghambill posting under a new name?
freak80
2012 Mar 1, 12:10am
Real estate in the USA is garbage. Its a life sucking, life destroying piece of garbage
Clarification: buying Real Estate in California is life-sucking and life-destroying.
REpro
2012 Mar 1, 1:31am
Real estate in the USA is garbage. Its a life sucking, life destroying piece of garbage. Anyone who bids up a house is a rat. A traitor to the next generation.
Well… houses reflects the overall national philosophy: “Make Money and Runâ€
freak80
2012 Mar 1, 1:56am
Well… houses reflects the overall national philosophy: “Make Money and Runâ€
Like +1
freak80
2012 Mar 1, 1:59am
yeah, lets keep things on topic here. haha.
Well a lot of people (most?) on this forum are from the SF Bay Area.
Well a lot of people (most?) on this forum are from the SF Bay Area.
true. I was more referring to the random rant about "US Housing" - not really a necessary point to make given the forum we are posting in. lol
How can this be?
It's seriously not that uncommon around here lately. They lived in delusion for a while, but as I mentioned in a comment above, they are just as fed up with the banks, short sales, town zoning violations (a new deck never filed), and people listing their house for above market. All things that makes them waste their time showing houses that don't sell, or get severely delayed.
So for those of you that don't know, the prices have been slow to fall here in NYC and Long Island. They've definitely come down, but not like other bubble markets. The reason is that the foreclosures haven't been processed as quickly as other parts of the country.
Well, while checking out a reasonably priced house, I came across a very honest Realtor. I was mentioning how i had noticed that prices seemed to have fallen a bit in the last few months (the house I was looking at recently dropped in price), and she said it's in anticipation of a flood of foreclosures about to hit the market. Apparently its going to get bad (or good, depending on how you look at it) in the next few months, and there is going to be a ton of inventory out there. The banks are finally dumping the properties out there.
Just some information I found to be interesting...especially given the source.
#housing