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LMAO Supercub.......
If a home can only sell for less than the taxes and fees assoc with the house then heck yeah a bank wants to dump it, but if the banks thinks they can sell the home and still make some $$ then they will hang on to it much like many homeowners who thing next year will be the time to sell, things will bounce back soon, and on and on and on.
Did anyone catch the new CEO of Walmart on the Today show this morning? He was talking about trends and what consumers are buying and what it says about our economy, well, his answer to one of the questions included a comment that said "the recovery is not V shaped, it will take some time to happen".......got to love that.
Ouch dacolan.....ouch......
I need some oreos......
Housing index posts biggest jump in 5 years
I also beleive the market will have some large negatives in the next 6 months however there are many investor filling their pockets with highly discounted properties right now. If you are waiting for the bottom by the time you find it the banks will not be taking rdiiculously low prices for good homes...remember...no risk, no reward....as soon as banks see any stability things will tighten up. I picked up a home in AZ last week for a song...great neighborhood, 3900tf2. Never risk what you cannot afford to lose...Cash and high ernst money steal deals away from higher bidders. JMO
... and, it's free and anonymous
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"No Housing Recovery Lurks in Shadow Inventory"
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"We believe there are in the neighborhood of 600,000 properties nationwide that banks have repossessed but not put on the market," said Rick Sharga, vice president of RealtyTrac, which compiles nationwide statistics on foreclosures. "California probably represents 80,000 of those homes. It could be disastrous if the banks suddenly flooded the market with those distressed properties. You'd have further depreciation and carnage."
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