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(Yahoo)   Foreclosures hit a record low, probably because there's only a few houses left to foreclose upon   (finance.yahoo.com) divider line 12
    More: Unlikely, house left, foreclosure sale, U.S., National Association of Home Builders, RealtyTrac, Boynton Beach, CoreLogic Inc., metropolitan areas by population  
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350 clicks; posted to Business » on 17 May 2012 at 11:58 AM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-05-17 10:08:55 AM  
No, its because first term Reagan policies with second term Bush policies, in conjunction with Jesus and the tidal flow, have allowed the right Americans to stay in their homes despite the socialist policies of Obama he uses to enrich his wall street cronies.
 
2012-05-17 11:28:29 AM  
The number of foreclosures isn't nearly as important as the fact that six months after the foreclosure the bank finally evicted the neighbors from hell who lived across from us. Now that they have possession the bank is taking much better care of the property than the folks who used to own it.

So let's focus on the positives here.
 
2012-05-17 12:20:48 PM  

WTF Indeed: No, its because first term Reagan policies with second term Bush policies, in conjunction with Jesus and the tidal flow, have allowed the right Americans to stay in their homes despite the socialist policies of Obama he uses to enrich his wall street cronies.


That's just fantastic.
 
2012-05-17 12:22:37 PM  
So now is the perfect time to buy?
 
2012-05-17 12:36:16 PM  
Hey subby,

How is a 5-year low a "record"?
 
2012-05-17 12:47:11 PM  

Gunny Walker: So now is the perfect time to buy?


It really may be close. You want to consider how far the market in your area is going to overshoot the nominal price and at what timeline, but there will be a bottom and the market "wisdom" won't notice that until it's long gone just like they didn't notice the bubble until it already popped (as in all bubbles).

www.jparsons.net

www.jparsons.net

But the larger question is "Do you want to buy a house and live in it for a while?" This used to be the question everyone asked themselves before the bubble made the question into "Do you want to get rich with no work?"
 
2012-05-17 12:59:00 PM  
If you read the actual article, it looks like the banks are just processing more short sales (a house sold in a short sale doesn't get foreclosed upon).

As for whether or not it's a good time to buy, a lot of that depends on the individual market and your individual situation. I live in an area where typical monthly payments are now about half that of typical monthly rent for a similiar house (even factoring in property taxes and insurance). So, assuming you are going to stick around for more than a year or two, have an acceptable credit score, and have at least the minimum monthly payment, you would be a fool to rent. But this isn't true in all parts of the country.
 
2012-05-17 01:00:36 PM  
Rapmaster2000

Good stuff.

Also, trying to time bottoms is a suckers game.

I bought my house in 2007. I didnt hit exact bottom for my area, but close enough. 2012 values are about equal to 2007 values, its possible I could even sell my house for more than I purchased it for.

But, the key is, I have no interest in selling. Possibly forever.
 
2012-05-17 02:10:54 PM  
Got my house on a short sale. Needs some work because the previous owner was a handyman who couldn't use a ruler. Seriously, when you're putting down laminate, make all the pieces the same length, retard. Just lay the first one next to the one you're cutting, you can't screw it up! And that's just one example.

/they're off by several inches
//i think he was drunk
 
2012-05-17 02:35:23 PM  

Gunny Walker: So now is the perfect time to buy?




Its always a perfect time to buy. Its a new paradigm. Property values will increase 20% every year. FOREVER.
 
2012-05-17 04:01:12 PM  

Goodfella: Gunny Walker: So now is the perfect time to buy?



Its always a perfect time to buy. Its a new paradigm. Property values will increase 20% every year. FOREVER.


That's what all the realtors keep telling me, and really, why would they lie?
 
2012-05-17 06:42:53 PM  
Currently under contract, so I'm getting a kick....

I've said it before: I think we're at the point now where, in most places, you can buy again and not live in constant fear of losing your ass. I still wouldn't buy in New York, San Fran or DC. I've been a housing bear for, oh, about 10 years now. But now we're at the point at which it's cheaper to buy and maintain than to rent here.

Hoping my patience -- and my refusing to listen to realtors and banksters -- has finally paid off, and that it means getting a pretty damned nice house at an affordable price, and that we're hitting it as rates and prices are both fairly low. If I make a little money, long-term, great. If I lose a little, oh well. No intention of moving again for about 30 or 40 years, at which point I'll own it outright either way and have a nice stash of capital, sell it off, and move somewhere nicer to enjoy retirement.
 
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