The next big trend: Foreclosure

CNN Money ^ | February 5, 2004 | Sarah Max

[Mini-14]

BEND, Ore. (CNN/Money)

[Professional Engineer]

Time to think about real estate investments?

[KevinDavis]

I wonder when people here will try to blame GW.

[MonroeDNA]

Soon the sleeper freepers will appear.

[KevinDavis]

The Sleeper Freepers?

[stuartcr]

It's a continuing problem, I don't think any one administration is at fault.

[KevinDavis]

I know that, I was saying that a lot of people here will blame George W. The fault lies within the individual.

[Ursus arctos horribilis]

I do take note, she is selling the foreclosed properties, so, some (your) lose, some (my) gain.

[UNGN]

None of the foreclosed properties are on the market for more than 30 days. Bush should get CREDIT for this.

If the economy sucked, the foreclosed properties would lay there forever.

[jocon307]

Thanks for posting this! I've often wondered if it made sense to try and buy a foreclosed property, this article gives a very good (and concise!) overview of the entire suject.

[lelio]

"The owner took the fireplaces, the heat pump, the central vacuum system and everything else he could take with him," said Maloney.

How on earth do you sell a fireplace? The only way I can think of if it was a gas fueled one with the concrete logs. And the central vacuum system? I take it he means the single vacuum -- again who is he going to sell that to? Psst, buddy do you need a model 1236A5R central vacuum?

[stuartcr]

Everybody blames the incumbent, or in the case of most of FR, Clinton...

[looscnnn]

"The only way I can think of if it was a gas fueled one with the concrete logs."

Most likely.

"And the central vacuum system?"

Ebay. Keep it for next house?

[PAR35]

How on earth do you sell a fireplace?

Sometimes it is mere vandalism (I recall a guy who took a tractor and pushed a poolside tree into the pool, turning the pool from an asset into a liability. Other times, it is a feeling of "I paid for that appliance/fixture/etc and put it in myself. I'm not going to let the lender have it.

Sometimes they have a legal right to take it, sometimes not, but it is frequently not cost-effective to go after someone who is broke, and the DA is not usually interested unless it has significant value.

[Poohbah]

Soon the sleeper freepers will appear.\

Here, I'll call them out:

The woods are lovely, dark and deep
But I have promises to keep
And miles to go before I sleep
And miles to go before I sleep.

[Lazamataz]

I take the opposite tack: Nothing is GW Bush's fault, not even stuff that he's responsible for.

[Modernman]

I just served as a trustee on the sale of two foreclosed condo units. In Fairfax County, Virginia, foreclosure sales are done on the courthouse steps- people gather around and bid on the properties.

The women who bought the condos at the sale got them for $65K each and flipped them a month later for $85K.

[RckyRaCoCo]

bump for later read

[cyborg]

Remember he's only the president. That means he not responsible for anything /sarcasm

[monkeywrench]

"Here, I'll call them out:

The woods are lovely, dark and deep

But I have promises to keep

And miles to go before I sleep

And miles to go before I sleep."

ROFLMAO!!!