mrwonderful
Posts:256
 | | 07/30/2008 8:19 PM |
 Alert | When is Maricopa finally going acknowledge they have a problem? My investment group just bought 3 fourteen hundred foot homes for a mere 258,000.00 from a major lender. | | | |
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missPolitick
Posts:643
| | 07/30/2008 8:41 PM |
Alert | Can we please just not talk about it? I would like to ignore it. It's like twisting a butterknife in my stomach. Thanks.  | |
Despite All My Rage I Am Still Just A Rat In A Cage | |
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Protofish
Posts:158
| | 07/30/2008 9:55 PM |
Alert | The average house in Copa lost about 30k off its value. | | | |
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RichTig
Posts:0
| | 07/31/2008 6:12 AM |
Alert | Posted By mrwonderful on 07/30/2008 8:19 PM When is Maricopa finally going acknowledge they have a problem? My investment group just bought 3 fourteen hundred foot homes for a mere 258,000.00 from a major lender.
Good to know you are investing in someone elses foreclosure/personal misery.
God bless you. | | | |
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RichTig
Posts:0
| | 07/31/2008 6:15 AM |
Alert | You and your investment group must think those houses will increase in value, or why would you buy them? What's the problem? | | | |
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drummer72
Posts:3535
| | 07/31/2008 7:38 AM |
Alert | | I may be wrong, but aren't investors part of the reason the housing market sucks in Maricopa? | |
"Everything for everyone and nothing for ourselves" | |
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JasonY
Posts:2417
| | 07/31/2008 9:02 AM |
Alert | Nope
Basic capitalism.....something is only worth as much as someone is willing to pay for it........ | |
"My favorite health club is the International House of Pancakes" -- Lewis Black | |
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RichTig
Posts:0
| | 07/31/2008 9:06 AM |
Alert | Supply and demand, baby! Capitalism at its finest. | | | |
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JasonY
Posts:2417
| | 07/31/2008 9:08 AM |
Alert | I can still sell my house for a profit........though not much of one anymore...... | |
"My favorite health club is the International House of Pancakes" -- Lewis Black | |
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RichTig
Posts:0
| | 07/31/2008 9:09 AM |
Alert | If we sold now, we would break even with realtor fees. Not bad considering the horror stories from people who are 200k unside down. LOL | | | |
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JasonY
Posts:2417
| | 07/31/2008 9:10 AM |
Alert | | We are getting ripped in the Acacia Crossings section.....send backup...... | |
"My favorite health club is the International House of Pancakes" -- Lewis Black | |
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RichTig
Posts:0
| | 07/31/2008 9:13 AM |
Alert | A buddy of mine lives on MiraMar - he owes 185k and there was a foreclosure sold (his floor plan) for 105k. Ouch. | | | |
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teampearlstein
Posts:74
| | 07/31/2008 9:38 AM |
Alert | We have a friend who is in MM who owes 250+ on a 1500 square feet that his neighbor sold the same home last month for 124K.
That is a HUGE ouch! | | | |
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RichTig
Posts:0
| | 07/31/2008 9:48 AM |
Alert | Damn! Did they overpay or did they refi and spend the money? | | | |
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OBG II
Posts:546
| | 07/31/2008 10:35 AM |
Alert | 258K is 86K average. | |
Some people will do anything to get elected!
IMPALIN' THE LEFT | |
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TortosaGuy
Posts:689
| | 07/31/2008 10:54 AM |
Alert | | its because of investors that ballooned the prices of homes to begin with....now things are crashing down like the internet boom did in the late 90's early 2000's...things would correct quicker if the government would stop fooling around with things to try and bring a quick fix | |
*formerly known as inyrfce2*
Senior Member
Posts: 797
Joined: Dec 2006 | |
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Powerball
Posts:21
| | 07/31/2008 11:29 AM |
Alert | You don't think it has anything to do with the banks manipulating the crediting process approving loans that wouldn't fly normally?. At the same time working with assessors to maximize loan amounts... That would create quite an inflationary housing market... Also at the same time builders have flooded the market with overpriced homes anticipating being able to sell those through the shady lending practices that had become the norm. All of a sudden those people that shouldn't have qualified for those loans can't afford it anymore and fold. You want to blame investors, but the lending industry is to blame for enabling everyone under the sun to buy a home. It comes down to greed and you should blame the Banking industry for planting the seed that turned into this big gnarly thorny bush called the housing market. Of course there will be a correction, but people are still out there buying homes... There is just too much SUPPLY, and DEMAND has a long way to catch up... It'll happen though... | |
Freedom is not free, but the U.S. Marine Corps will pay most of your share. - Ned Dolan
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pissedparent
Posts:268
| | 07/31/2008 2:21 PM |
Alert | Posted By Protofish on 07/30/2008 9:55 PM The average house in Copa lost about 30k off its value. Or maybe it's exactly where it needs to be. The houses were way to inflated to begin with. My sister built her house for 175 and thought she could turn around and sell if for 350....what an ass. And she is not alone. Now her house value is tanking (or so she thought) but it's right back down to 175 or maybe 160. Houses are a long term investment not something you buy and sell like underwear. Give it a few years, we will all be fine. And PS I blame the mtg companies for giving 250 grand mtg to people who only made 40 grand a year on interest only. | | | |
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mrwonderful
Posts:256
| | 07/31/2008 6:40 PM |
Alert | | These deals only come up rarely, I have some friends who lost their home in Gilbert and need to rent something reasonable. I cannot earn but 3-4 percent at any money fund, so this is a decent return on 82 thousand. But remember I have to pay the wanna be's in city hall. It really sucks to see how they want too fleece the paying citizens. | | | |
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RichTig
Posts:0
| | 08/01/2008 6:50 AM |
Alert | Posted By pissedparent on 07/31/2008 2:21 PM Posted By Protofish on 07/30/2008 9:55 PM The average house in Copa lost about 30k off its value. Or maybe it's exactly where it needs to be. The houses were way to inflated to begin with. My sister built her house for 175 and thought she could turn around and sell if for 350....what an ass. And she is not alone. Now her house value is tanking (or so she thought) but it's right back down to 175 or maybe 160. Houses are a long term investment not something you buy and sell like underwear. Give it a few years, we will all be fine. And PS I blame the mtg companies for giving 250 grand mtg to people who only made 40 grand a year on interest only. The people who signed up for the mortgages are just as much to blame as the mortgage companies. | | | |
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