For our Phoenicians- [Or anyone else who wants to see something scary on a Saturday morning]
L sent me this great interactive map. If you enter your city and zip code, you can see all the foreclosures in the area. If you are not a Phoenician and want to check it out, look up my old zip code in Gilbert, 85296. I sold my home in 2005, but you’ll note that not everyone else has been as lucky.
Have fun- I’ve got chores today!
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Wow. That’s impressive. I’m always amazed at what the numbers actually look like. Thanks for the link.
Twist, thanks for the information.
I sold my house (due to a divorce) back in 2005. My old city and zip code was Chandler/85226. A lot of foreclosures, but not any where near as bad as your old city and zip code.
Not Bad yet in NJ but the Wall Street meltdown has yet to trickle down.
BTW, I was at the inauguration in a party of 6 among 2 million or so people. It was quite a spectacular event. Just the fact that so many people could be together at once and have nothing significant happen. Mind blowing…truly.
Those red markers in Fountain Hills south of Shea in Eagle Mountain are all $1,000,000 plus. Or should I say “were” $1,000,000 plus.Subprime was just the beginning-it is now well into Alt.A headed into Prime. Also remenber it is worse than those maps show-as banks seem to hold back on listing all their REO’s all at once. Just waiting.
Surak-
I used to live in 85226 too, and most of it was built before the peak- that gave folks who didn’t HELOC their places room to work with. I think most of Gilbert was built at the peak putting a lot of people underwater. [My buyers got a $150K HELOC within a year of buying my place- I keep watching to see if they are in trouble. I’m not surprised Gilbert is in worse shape.
Metro-
I’m intimidated by battling the crowds to see the play at my son’s elementary school. You’re braver than I am!
My previous home went into forclosure last March I sold it in 2005. I remember the guy that bought it doing an 80/20 loan with no money down. I didn’t even know you could do that back then.
Twist,
I did not think of that. That is good information to know.
Thanks
I live in 85296 as a renter. I am recently engaged and waiting for the market to correct itself before jumping in on a home purchase. I can tell you, Gilbert and southern Chandler look like the “Death of the Housing Market”. There are some many foreclosures a U-Haul truck is a permanent feature in the neighborhoods. In southern Chandler the vision is 20 or so 400+K homes surrounded by empty lots abandoned by the builders as they fled the market. Hopefully the home I am renting does not get foreclosed on soon, the owner is probably upside down about 100K. 1500 square foot home purchased for 260,000 in the peak of the market. And that is with linoleum floors and formica counters….. NO Granite for 1/4+ Million?????
SunDevilPilot