Housing Doom Housing Bubble Blog

A nation that forgets its past is doomed to repeat it. - Churchill

January 13th, 2008

Trapped in the housing market

I found this editorial in the Juneau Empire this morning, and thought it was worth quoting:

 

These days, we focus on the plummeting housing market nationwide and the possible dangers of Juneau residents getting trapped in ownership of houses that are worth less than they paid for them.

Just a few years ago, we brooded about the opposite. We feared the seemingly relentless increase in price, and the possible dangers of other Juneau residents getting trapped in their status as permanent renters because houses cost more than they could pay for them.

Read the rest of this entry »

January 13th, 2008

A home that is not in foreclosure!

I’m still trying to decide if this one’s funny or sad….

When a property is listed on the MLS, there is an area for "Realtor Remarks."  These are visible to other realtors, but not to individuals looking at the listing.  M forwards some interesting ones to me now again. He forwarded this one from the Phoenix area to me this weekend. It speaks volumes about the Phoenix market"

REALTOR® Remarks: AT LAST A HOME THAT IS NOT IN FORECLOSURE!THIS SHOULD BE EASY SAILING!

M said of this comment:

I know it sounds funny, but it is very true.  The active inventory is becoming dominated by short sales and REOs.   I have a friend who has shown +/-50 homes to a client….only one showing was an owner-occupied property.

Read the rest of this entry »

|