Comments on: Foreclosures Update

By: North Georgia Cabin Rentals

North Georgia Cabin Rentals — Tue, 30 Nov 1999 00:00:00 +0000

They have definately seem to have over built on condos. Not many people buying them yet the houses seem to always sell. I think the developers over estimated the condo in todays market.

By: Midtown Atlanta Condos

Midtown Atlanta Condos — Tue, 30 Nov 1999 00:00:00 +0000

Wow, 7 schools closing in your county! That’s definitely a bad sign. I can’t remember is all of my 33 years ever hearing about a school closing in my area because of people moving away. Daytona will rebound, hang in there.

By: Condos For Sale In Daytona Beach Florida

Condos For Sale In Daytona Beach Florida — Tue, 30 Nov 1999 00:00:00 +0000

In our area we have 7 schools closing in one county and that speaks to people have not only foreclosed buy they moved out of the area.

I think it is so hard to find a job that pays enough to purchase a median price home. That was until recently and now I see house values down and purchasing homes is reduced and interest rates good and if you qualify this is a great time to buy.

I have do believe this area will rebound but things like shool closures are making people as nervous as the media doom and gloom reports. I hope people will look thru all the reports and meet with a lender and see in there case is it a viable option and then start the house search.

By: Blue Ridge Georgia Cabin Rentals

Blue Ridge Georgia Cabin Rentals — Tue, 30 Nov 1999 00:00:00 +0000

Seems like all the boom in many areas has caused the median price home to be higher than an professional in a middle income can afford and thats just not right.

I like to see the home values go down and move in a slower up and down process and people will know when it’s best to buy and sell.

People just need to ride it out when home values are down and they will go up again. When you buy anything else it depreciates and you loose value why do you think different in a house. The market allows for those good times to sell and that is what you wait for in a house and foreclosure is when you loose a job with none on the horizon or illness and job loss not a Option ARM coming due and costing more.

I am not in favor or industry bailout. The made there money let them take the loss and reset those homes at a lower value.

By: foreclosurefish

foreclosurefish — Tue, 30 Nov 1999 00:00:00 +0000

Hopefully the lowered rates will keep a few homeowners from facing foreclosure due to resetting ARMs. Unfortunately, the lower rates are causing a general drop in the value of the dollar, with corresponding increases in food and energy prices. Homeowners will need some sort of relief to be able to keep up. An increased mortgage payment, higher food prices, and transportation costs would certainly make the situation much worse than it is now.

By: Real Estate In North Georgia

Real Estate In North Georgia — Tue, 30 Nov 1999 00:00:00 +0000

Hopefully this cut in interest rates will assist when the next ARMS tset. They definatly have time to consider selling if they see they are not going to be able to afford the bump. They have alot to learn from those in the past 6 months who have done the same. Economic growth in an area has alot to do with recovery of this lending crisis. Job loss and jobs in general will also drive the market unless you are retired and looking for a retirement house.