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U.S. Foreclosure Filings Top 300,000 as Bank Seizures Loom

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arnie84

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CLICK ON ME  <--------
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June 12 - US
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 92,249  Forecloser filings in CA alone!!!!
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June 12
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One of the surveys show, There will be 300,000 new renters and 92,249 new renter in California alone !!!!
Since It's not every foreclosure will sold right away, therefore the rental's price will go up !
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June 12
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Is this true?  I read in CNN that dropped for the month of may.   If this is true, when will these houses be released.  I'm trying to find a forclosure in the east bay (CA),  and so far have not found many.  The ones that are coming up are short sales.  many people don't want to touch those.  I know I don't.  How long do they stay in short sale? Do they ever go to forclosure?  I've seen some at over 300 days in the market but as short sales.    
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June 12
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Roberto Ribas, "azrob"

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haung: are you on some special medication? rental prices are already dropping, this is sort of easy to see already... With job losses, rental rates drop, so please, get a lower dose on the meds!
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June 12
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NTETS, "Caveat Emptor"

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they will be steadily released over the next year, dont buy 'till you see the whites of their eyes!
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June 12
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Spleng

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"haung: are you on some special medication?"

You may be on to something here.
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June 12
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"haung: are you on some special medication?"
Yes, I'm on some medication, I'm used a lot of Marlboro (light) and Budweiser to cure my boring sickness lately,
I agreed with you that, the peoples lost their home in foreclosure, the Ex-wife and her new husband or boyfriend will return to live with her Ex-husband, The Ex-husband and his new wife or his girlfriend will return to live with his Ex-wife, the daughter in-laws will live with her mother in-laws, no matter how much they hate each other, Which is turn out to be good for the moral of our socially, not all of them however.
There are supply and demand's rules, many houses will leave empty (foreclosure), We easy to see more demand for the rental properties, and the rental price will go up, unless there are areas, which are no employment and ghost towns. those areas developed depend on the housing sector, now the housing sector gone, Those areas had the hard times , but they will survive.
Azrob, you living in the small town and see through from the small window, you need to go out and see the beauty of America!
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June 12
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Roberto Ribas, "azrob"

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Phoenix, all 4.5 million people is a small town? twelfth biggest metropolitan area is small?
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June 12
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White Picture

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You living in Temple, 10 miles from Phoenix ?
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June 12
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nvchaz

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All the foreclosed upon will be squatting in the desert just south of Phoenix.

A rather sun-parched Hooverville, with azrob as presiding nabob.

Tempe and Mesa use to be distinct from Phoenix, as was once Glendale and Burbank from LA. It is now just one big vicious smear in the Valley of the Sun.
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June 12
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The new reality: the foreclosed upon don't need housing, especially if they are unemployed.

BTW, the borrowers with good income, but nonetheless walking away, intend to live on the street for three years until their credit is repaired.
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June 12
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Nvchaz RETURNED !
How for your home purchase going ?
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June 12
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A big hassle, closing got delayed a week because of a lack of a vapor barrier in the crawl space that stopped the pest report.

Finally, got the appraisal in after the vapor barrier was installed and was set to close today. This morning I got a call from the lender, Wells Fargo, saying the appraisal showed a small leak in the water heater and I have to have it replaced. The underwriters had the appraisal for a week before they decided to stop the closing. My REA is trying to get them to pay for it. Result: one more week delay.

I spent the last four days moving my stuff into storage and am sleeping on my mother's couch, which is no fun.

This is it! I'm fed up. This is gonna be my toes up home.
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June 12
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The peoples with foreclosure will live in Azrob's rental house, 125 peoples per room for free, since He can't rent it out !

Feb up now and much happiness later ! :-)
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June 12
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Rents will keep coming down, What Hug.. You are usually good / great at math. Here is the takeaway on why.
http://latimesblogs.latimes.com/laland/2009/04/rents-fall-at-southland-apartments.html

Don't forget 19 MILLION Empty homes, and you think rents are going up? Please tell me your case, I want to hear your POV (I don't know If I need meds or you do, but I am OK if you tell me I do, I won't tell you, you do however as that is just to start an argument) I want an argument, but I want a civil one, and one I can either learn from, or teach from, or take away a new POV.
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June 12
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You know Chaz we had a pool going that you had run off with Linda, you cost me $2
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June 12
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Hi Cvoc13,
"Rents should level out in 2010 as the economy recovers, the report said. The average one-bedroom apartment in Los Angeles rented for $1,397 a month at the end of last year."
From your link, which is not true, therefore the article was unreliable.
1 bedroom at lower areas (bad) is $800. ( vannuy, pacoima )
1 bedroom at average areas is $1050. ( north west of san fernando valley )
1 bedroom at high price areas is $1250. ( santa monica, malibu )
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June 12
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We did date a couple of times, Linda and I, but it didn't work out.

It turns out she is bulemic and I had to draw the line when she asked me to hold her hair.

Shoulda guessed from her picture and her hyperactivity posting.
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June 12
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You are so wrong!
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June 12
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Again Hi Cvov13,
I used the math to proved my points, not to prove I'm a good math (Unlike the other), therefore you need not to mention of my math, every time you want talk to me.
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June 12
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CA will probably be a net outflow state for quite sometime.

"Where ever I go, there I am" ~ Lao Tzu

What puzzles me is aznabobs position, since AZ is destined to catch a great deal of that outflow as is NV. There still is a lot of desert to chew up.

Jobs are key, of course. You can buy a 4bd home in Detroit for $12K. To ignore internal migration in response to job lose is just plain blind. This is another great example of the fools on this board who attempt to extrapolate local trends into national ones. Charts are great for that.
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June 12
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OK, But it is really rather good.  Give me some insight as to your idea of why rents going up, I have it figured to go down.  But I am open to your ideas, unless you were just being semi serious, that is OK of course, but I am thinking you will agree with me this time, I will likely agree with you sometime in the future.
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June 12
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His sub-prime loan just reset!:
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June 12
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NTETS, "Caveat Emptor"

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"haung: are you on some special medication?"
Yes, I'm on some medication, I'm used a lot of Marlboro (light)

too bad 'bout the new law... lights and flavors are now illegal.
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June 12
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Hi Cvoc13,
OK, let another time, since now it's too late (night), beside of I want to have fun with Nvchaz and PMSoldier right now!
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June 12
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"The brightest sector of the real estate market is rentals. With so many homes being foreclosed on in the area, many renters as well as homeowners are losing their homes, contributing to a brisk rental market for moderately priced homes. Many homeowners are turning into semi-investors: renting their homes instead of selling in order to wait this downturn out. For those who have the money and the credit, this market is a great opportunity to pick up an income property. Many tenants are also interested in longer term leases."Yup! Investors are being foreclosed upon as well, further tightening the rental market in Reno. Rents might trend up here soon.
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June 12
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Hey Hoang,

Have a cold one and burn one down for me. I'm living at mamma's house and mamma don't allow her boy to do neither.
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June 12
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RENTAL RATES PHOENIX

RENTAL RATES RENO
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June 13
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Oh yeah, here's the cite:

http://www.apartmentratings.com/rate?a=MSAAvgRentalPrice&msa=6720
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June 13
 

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