HM did you come accross that site yet?
Currently I am getting 3-5 calls a week from realtors/brockers for me to bid repainting the inside of repos. I even had one thru hot boat...There are tons of them out there. You just have to look.
Just 3 to 5 ?....lol...
Not that it's a problem down here, but the banks are asking top dollar after they fixup the homes...
Just 3 to 5 ?....lol...
Not that it's a problem down here, but the banks are asking top dollar after they fixup the homes...
Well you know when you tell them you are atleast a month out they don't tend to call back... that and some of the prices I have bid for them may have been a little high( about 50% or so)
A quick bump to facilitate the misery.
ROLL CALL for all the guys who said it wasn't gonna happen.....let's hear your peachy spin and outlook now....
Man, everybody is gearing up bigtime.
Foreclosures jump to '80s level
Nearly 4,000 homes up for possible sale; gas prices, debt blamed
07:08 AM CDT on Friday, October 20, 2006
By BRENDAN M. CASE / The Dallas Morning News
Home foreclosure postings in the Dallas-Fort Worth area have surged to their highest level since the 1980s.
Nearly 4,000 homes in Dallas, Tarrant, Collin and Denton counties have been posted for possible sale in November, up 49 percent from the same period a year ago.
"It's high, much higher than normal," said George Roddy, president of Addison-based Foreclosure Listing Service, which compiled the data.
Fueling the foreclosures are interest rate hikes, rising living expenses and consumer debt, and aggressive lending practices.
Home foreclosure postings reached about 35,300 so far this year, increasing 20 percent over the same period a year ago. That figure has already surpassed the total for 2005, which was about 32,500.
Foreclosures typically have their roots in a family calamity, such as divorce, death or job loss. Making things worse this year, said Mr. Roddy, were high energy prices and ballooning credit card debt. Meanwhile, real wages have stagnated.
"If you look at gasoline charges up until a month ago, they were up to the moon," he said. "And obviously, there's the cost of electricity and the high credit card balances people are holding."
Another likely culprit: aggressive lending, in which mortgage companies sell homeowners products that might not be suitable in the long term.
Many homeowners appeared to be struggling with adjustable rate mortgages, which accounted for about a third of foreclosure postings this month, Mr. Roddy said. That category includes nontraditional mortgages that offer low payments the first few years, often followed by sharply increasing payments.
Many homeowners have been trading in such mortgages for traditional fixed-rate mortgages.
It's not the most worrisome performance ever for foreclosures in the Dallas area. In 1989, foreclosures in Dallas County reached as high as 2,000 a month in a smaller overall market, Mr. Roddy said. This month's figure for Dallas County was 1,886.
The latest rise in foreclosures has added to concern about the local real estate market, which has cooled in recent months. In September, local home sales dropped, the number of homes for sale increased, and prices declined slightly as homebuyers pulled back to see what would happen to the national housing market.
Still, there are also positive signs, said Craig Jarrell, president for the Dallas region at Pulaski Mortgage Co.
"Maybe it's the spike before things start getting better," he said of the foreclosure postings. "Gasoline prices are down, interest rates have stabilized, the economy's doing all right, the stock market is getting better.
"I think real estate is going to keep on trucking in the Dallas area."
As a consumer, the key is to make sure you're not biting off more than you can chew, said Gary Akright, president of Dallas-based Dominion Mortgage Corp.
"I don't like to see people get in their homes and then lose their homes," he said. "But I think a lot of times people need to take responsibility and know that they shouldn't be stretching. We have guidelines for a reason."
Not all homes posted for foreclosure are sold at auction. Homeowners are often able to work out arrangements with their lenders.
Foreclosures this month rose by 49 percent in Dallas County, 47 percent in Tarrant County, 65 percent in Collin County and 37 percent in Rockwall County.
About 80 percent of the properties posted for foreclosure are worth $200,000 or less, with an average value of about $115,500 for Dallas, Tarrant, Collin and Denton counties, Mr. Roddy said.
Still, a small portion of homes have values over $500,000.
"It's safe to say that all walks of life in the D-FW area are affected," he said
You don't know where to look. When a homeowner gets a NOD recorded (Notice of Default), the vultures swoop in - on all the ones with equity.
I dont know if I like that as a nick name....guess its better than most of the rest that people call me
I dont know if I like that as a nick name....guess its better than most of the rest that people call me
Just trying to keep the competition out. If they think that there are major greedy professionals behind this, they won't even try. One of my guys does this in San Diego, and the home owner of a recent deal he was trying to put together called him names much more graphic than that, but still signed.
I dont know if I like that as a nick name....guess its better than most of the rest that people call me
Hey dude! It was nice hangin with ya in Nashville!!! I will be back in December to hopfully snag that land I looked at with Randy, I will let you know.
Currently I am getting 3-5 calls a week from realtors/brockers for me to bid repainting the inside of repos. I even had one thru hot boat...There are tons of them out there. You just have to look.
How much you charge for painting? I'll be doing that tomorrow....unless you make spending money a good deal.
How much you charge for painting? I'll be doing that tomorrow....unless you make spending money a good deal.
it all dpeneds on what you want. Ball park for the "average" house for a single color "nice" paint job 1800-2500. 3500 if you do the prep, 5k if you help more then moving your 500lb bed.
Posting Permissions
Reply With Quote