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How's things where you are? - 10/5/2009 9:28:11 AM

popeye1250

Posts: 18104
Joined: 1/27/2006
From: New Hampshire
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For the last nine months or so in a neighborhood of about 40 houses behind me there were 5 houses for sale
Last week as I walked through there I noticed that all five houses had no "For Sale" signs on them anymore and they were all occupied!
It happenned really fast! And I've noticed more moving trucks in the area too.
A Realtor who lives in these condos told me about three weeks ago that things are starting to "pick up" as far as houses and condos starting to sell.
Unemployment is still high but that's what they call a "lagging indicator."
So how's things where you are?

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RE: How's things where you are? - 10/5/2009 9:39:51 AM

kdsub

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Here in the St. Louis suburbs there still doesn't seem to be much movement in real estate... The same houses are still on the market and more everyday. It is a buyers market for sure but the loans are harder to get...as they should be.

There has been a boom in weekly motel rentals...more apartments for rent rather than condos so maybe, as in the distant past, people are realizing that not everyone can or should own a home.

Butch

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RE: How's things where you are? - 10/5/2009 6:35:18 PM

OrionTheWolf

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Less houses for sale now, but many more that appear to be abandoned. House next to me and across the street are empty, one is up for sale and the bank just got the other one. Hope we get decent neighbors. The area I am in actually has less unemployment that what the state average is.

BTW, did you read how those with Good and Great credit or more likely to skip on a mortgage than those with bad credit? They are able to get another house with their credit, where as the person with bad credit would have to rent.

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RE: How's things where you are? - 10/5/2009 6:45:34 PM

pahunkboy

Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
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...it isnt too bad. Empty places now have people living in them- and some are fixing the place up. Which is better then empty vandalized houses.

For a while it looked like the whole town was going to be for sale....

(in reply to OrionTheWolf)

Post #: 4

RE: How's things where you are? - 10/5/2009 7:04:14 PM

DarkSteven

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In most of Colorado, we missedout on the real estate frenzy, so we have a shorter distance to fall.

There are a few houses for sale in my neighborhood, but nothing panicked. It's an established area.

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RE: How's things where you are? - 10/5/2009 7:13:27 PM

housesub4you

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Joined: 4/2/2008
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Well, there are still the same number of houses for sale, but at least they are not the same ones. Still a high amount of people without jobs around here, and nothing good about new jobs for the area.

We are thinking of moving to find jobs, but do not want to move to China

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Post #: 6

RE: How's things where you are? - 10/5/2009 7:17:04 PM

littlewonder

Posts: 15659
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There's no movement at all for homes here. Instead more are being foreclosed on than ever before and more are going up for sale and not moving. I need to sell my house early next year and this is not foreboding well for me and makes me quite nervous.

Homes that are selling are going for much much less than what they originally would have a year or two ago, again making me quite nervous.

And businesses are closing up one by one. Everday another one closes its doors and none are replacing it.

People are getting laid off by the droves and no one is hiring unless you will work for $10 an hour or less.

The shelters are turning people away because there is no more space or food left to give them.

I look for this place to be dead within the next couple of years unless something turns around.

Hopefully I can get out of here before that happens.

(in reply to housesub4you)

Post #: 7

RE: How's things where you are? - 10/5/2009 7:54:47 PM

Thadius

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Joined: 10/11/2005
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Heya Popeye,

I went for a walk last week, and noticed even more signs than I had the week before. Unemployment down state is now at 17% and they just locked out another union shop here in the next town over this weekend. I guess it's not the for sale signs that are bugging me, it's more that the for sale signs are "auction" signs. Also, I didn't see many new houses being built this year, probably 3 all spring and summer.

It's hard to judge how things are here, as we still have a pretty big company that is local and that isn't going anywhere, anytime soon that is. Dow Chemical, and Dow Corning are located just in town, and they just had the Gov., one of our senators, and a congressman here to unveil some new solar panels.... Guess those will help get some more jobs going here in the next year or so.

Things are definitely tighter here, than they were a year ago. I keep hoping to see some sign of a turn around, but I am afraid it is going to get darker before it improves. I keep looking back at the last stimulus package, how much it cost and what was promised, and I laugh as I think that they could have just as easily sent $2,000 to each and every American man, woman and child. Just think what that little bit of extra cash could have done for jump starting something, even if it was just put into people's savings accounts for a rainy day.

I wish you well,
Thadius

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RE: How's things where you are? - 10/5/2009 7:59:18 PM

subfever

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So far, it's not too bad where I'm at. The market values are approximately 20% lower than where they were at the market peak. We've had very few short sales and foreclosures here in my neighborhood, which is a key factor.

I've seen some neighborhoods in the Chicago area with depreciations over 50%, and some individual properties that closed recently at more than 90% depreciation compared to the market peak.

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RE: How's things where you are? - 10/5/2009 8:01:04 PM

Arpig

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From: Increasingly further from reality
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Same as before...by which I mean same as before the "crash"...nothing much changed around here, especially not in my neighbourhood...that's one of the advantages of poverty...a shitty economy doesn't affect you very much.

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RE: How's things where you are? - 10/5/2009 8:09:31 PM

Ialdabaoth

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From: Tempe, AZ
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My roommate just lost his job due to "downsizing", then got a call the next weekend that his sister was in a car accident, and is in a coma in the hospital.

Her health insurance, of course, is dropping her like a hot potato.

So, things are about the way they've been, all in all.

(in reply to Arpig)

Post #: 11

RE: How's things where you are? - 10/5/2009 8:25:44 PM

MzMia

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Joined: 7/30/2004
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Great topic sailorman!

We have not been hit as hard as many area's with the layoff's, BUT--
there is a lot of competition for jobs, and it is taking many people MONTHS
to find another job.

There are many homes that are for sale that are sitting on the market for months and months,
in certain area's.

They just laid off 200 teachers in D.C., and the teacher's are protesting the layoffs.

Now is just not the time to lose your job if you can help it!

< Message edited by MzMia -- 10/5/2009 8:26:23 PM >

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RE: How's things where you are? - 10/5/2009 8:26:52 PM

Ialdabaoth

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From: Tempe, AZ
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quote:

ORIGINAL: MzMia
Now is just not the time to lose your job if you can help it!

And what about the vast majority of people who can't help it?

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Post #: 13

RE: How's things where you are? - 10/5/2009 8:29:57 PM

MzMia

Posts: 5333
Joined: 7/30/2004
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quote:

ORIGINAL: Ialdabaoth

quote:

ORIGINAL: MzMia
Now is just not the time to lose your job if you can help it!

And what about the vast majority of people who can't help it?

May the force be with them.
Check my thread on the Depression.
People made it through the last Depression, people will make it through this one.
One way or another.

< Message edited by MzMia -- 10/5/2009 8:33:27 PM >

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Namaste'
To Each His/Her Own
"DENIAL ain't just a river in Egypt." Mark Twain

What's your favorite fetish?
"My partner's whisper"--bloomswell

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Post #: 14

RE: How's things where you are? - 10/5/2009 9:13:34 PM

Musicmystery

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Joined: 3/14/2005
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The foreclosure frenzy happened two years ago. Things are quiet and stable.

People complain business is slow (especially contractors), but they're working and getting by.

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RE: How's things where you are? - 10/6/2009 6:40:39 AM

Anarrus

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Joined: 11/8/2005
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~FR~
Real estate prices and sales are fairly stable in this area, but this area (south central NY) was never part of the real estate bubble. Existing home prices have always been and still remain reasonable. However there is not much new construction in the form of new housing or commercial structures.
This region has pretty much been in a stagnated and economically depressed mode since the mid 1970's when IBM, Singer-Link, Endicott-Johnson, GE, Universal Intruments and scores of other business which supported and supplied them, either moved on or closed their doors, leaving thousand's in the local communities here without jobs. Many of those without jobs migrated south or to other areas of the country.

On a more recent and personal level, the major competitor of the company I work for closed it's doors and filed for bankruptcy last week. While this is good for my company, it comes as a definate indicator of just how bad the real estate and housing market is on a national level, as we market to real estate firms and salespeople nationwide. I've worked in this business over 30 years and I know from experience that when they aren't selling real estate they buy very little of our products. Weekly sales for us have dropped off 40-50% from our numbers in 2005-mid 2008.
Our business, since mid 2008 has cut our workforce by 2 full time and 3 part-time employees. We have no plans to re-hire in the near future.

A close friend and one I do business with, was in my office last week asking if he could work full time as an employee for my company. He's seriously considering closing his 2nd generation printing business because he has little or no work anymore and the bills for simply keeping his business open are piling up (those of you who own their own businesses know the bills continue to arrive even though sales and orders are slow). This is man who's a skilled and knowledgeable craftsman and who asked me at one time, a couple years ago, if I'd work p-t for him because he had so much business.

Draw your own conclusions.

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RE: How's things where you are? - 10/6/2009 6:55:37 AM

pahunkboy

Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
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My friend that runs a food bank is very close to walking out.    The jail needs toilet paper. PA still has no state budget.

We did not have the run up in property prices that many places have.   I would love to sell and go to the county- but any buyer I could get has no money, no credit- and frankly would not even be a good tenant.   So- I would have to fire sale the place- which when you crunch it all down- would make me a renter- or worse.

I moved the bed way from the window- and slept better last night.   Who knows- maybe I can find more hints to defuse the road noise and grime.

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Post #: 17

RE: How's things where you are? - 10/6/2009 9:28:29 AM

Hillwilliam

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We never had a huge run up in property prices here, just a sloow steady 3-8% appreciation/year for the last 40 odd years. That is sustainable. Prices never fell here except for recreational properties up in the mountains. Our county has about 60,000 people in it and the last time I checked, there were 9 foreclosures on the market which is basically nothing compared to what 20/20, 60 minutes and CNN would have people believe. I think a lot of the problem, not just with the markets, is media-driven hysteria. Good news doesnt sell. I see a healthy Real Estate market in My area for the forseeable future and btw, Im a Real Estate broker with 15 years experience.

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RE: How's things where you are? - 10/6/2009 12:23:46 PM

UncleNasty

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quote:

ORIGINAL: Hillwilliam

We never had a huge run up in property prices here, just a sloow steady 3-8% appreciation/year for the last 40 odd years. That is sustainable. Prices never fell here except for recreational properties up in the mountains. Our county has about 60,000 people in it and the last time I checked, there were 9 foreclosures on the market which is basically nothing compared to what 20/20, 60 minutes and CNN would have people believe. I think a lot of the problem, not just with the markets, is media-driven hysteria. Good news doesnt sell. I see a healthy Real Estate market in My area for the forseeable future and btw, Im a Real Estate broker with 15 years experience.

There are/were regional differences in the "housing bubble," and there are regional differences in the numbers of foreclosures. If you're in an area that has managed to avoid the problems that is a good thing.

But there are also 4,000,000 foreclosures happening this year. None of the programs geared towards stemming this wave have had much effect, and it is doubtful they will. Additionally there are more real estate waves yet to break. Alt-A, Option Arm, commercial real estate...

If we're being overwhelmed with the current wave, and more waves are coming, I don't see it getting any better any time soon.

Uncle Nasty

(in reply to Hillwilliam)

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RE: How's things where you are? - 10/6/2009 3:13:15 PM

Politesub53

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Joined: 5/7/2007
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I live in a reasonable size town on the south coast, here in the UK. Things were slow last year, but since the start of the summer the housing market is really moving. There are way more sold signs these last three months and prices are creeping back up, albeit slowly.

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Post #: 20

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