We've Peaked On Foreclosures ! - NOT !!!

[Miss Critter]

I must be missing something. I do not see a large number of foreclosures in the Destin mls. (I am mainly looking at condos.) Are the foreclosures not all listed in the mls? I assume the percentages you are citing are nationwide, but I think the destin foreclosure totals would be less than 5% of total listings.
Short sales are a different matter.

What percent of short sales I wonder will ultimately end up as foreclosures?

 

[AAbsolute]

I must be missing something. I do not see a large number of foreclosures in the Destin mls. (I am mainly looking at condos.) Are the foreclosures not all listed in the mls? I assume the percentages you are citing are nationwide, but I think the destin foreclosure totals would be less than 5% of total listings.
Short sales are a different matter.

Since Sept. 1st there have been about 100 lis pendens filed in Walton County which is the precursor to foreclosure and about 300 Warranty Deeds which represent a property sale. Of the 300 Warranty Deeds there are a large percentage of them that were unqualified.

 

[beachmouse]

If you want to get an idea of the foreclosure situation in Walton County, go through the legals section of the classified ads in the Beach Breeze/DeFuniak Herald. The number of notices there is quite impressive. (I guess their ad rates are cheaper than the Sun's for that kind of thing)

 

[TheSheep]

Sorry I'm stepping on your thread. I think you have more wisdom than some folks think.

One does not own threads or freedom of conversation.;-)

 

[TheSheep]

Originally Posted by Miss Kitty
When The Sheep types in English, it can be a good read.

The Sheep speaks in scat jazz.

Speaking the common language commonly will commonly render the language, and the message, common.

 

[AAbsolute]

One does not own threads or freedom of conversation.;-)

Tell that to some of the HOA's around here, please.

 

[DuneLaker]

Mikeyboy, Perhaps the problem is in the name. South Walton, SoWal in not in Destin. Destin is in Okaloosa County. SoWal is in Walton County. Two very different places. The stats for Sowal and Destin are very different. Many are ignorant of this fact. ps. I am not a realtor nor do I have anything for sale.

 

[Miss Kitty]

Originally Posted by Miss Kitty
When The Sheep types in English, it can be a good read.

Speaking the common language commonly will commonly render the language, and the message, common.

I am a kommon kitty. kommon works for me.

 

[Capricious]

Good news. We're at the tail end of a wave of subprime resets.

Bad news. Round Two of approximately $230 billion in resets that will hit home within the next year. Alt-A mortgages and Option ARMs.


Pushing REOs through the FDIC-Asset Manager-Realtor pinhole is hardly any answer at all.

To Shoot The Messenger, aim at the stockings. :angry:

Oh well, could be worse. If we get Resolution Trust Corp. II (The Sequel),
we'll get big auctions. REAL auctions, not those "marketing events" that
have been posing as auctions. Potential buyers will need cash, or (LOLOLO)
a bank letter of credit in order to buy.

How will that affect the value of surrounding real estate?

I remember going to a couple of those RTC auctions way back when.

Reminds me of how old I am getting to be.

And how people need to keep learning the same lessons over and over and
over....


Good reading;
http://online.wsj.com/article/SB122169431617549947.html




Capricious


"...Can't you understand what's happening here? Don't you see what's happening? Potter isn't selling. Potter's buying! And why? Because we're panicky and he's not. That's why..."

 

[AAbsolute]

Isn't the Resolution Trust Corp. the entity that entitled us of Sowal to have Point Washington State Forrest? It can't be all bad....