Top 10 Foreclosure Cities?! Sound Off People!!
What are foreclosures doing in your local market?
We ask you to write in and let us know - is it Hype or Reality?
Okay, so I'm checking out the list of top 10 foreclosure markets (here in the U.S.A, for all you Canadian viewers out there - sorry!) - and we've all heard the bad news.
Times are TOUGH out there folks...according to Business 2.0 magazine, it's like this for the Top 10 foreclosure cities:(2006 data)
1) Greeley, CO
2) Detroit, MI
3) Miami, FL
4) Indianapolis, IN
5) Fort Lauderdale, FL
6) Denver, CO
7) Dayton, OH
8) Dallas, TX (question - is it *really* Dallas?? Or more like Plano...?!)
9) Ft. Worth, TX (same comment as above)
10) Atlanta, GA
So, what we're wondering is this: We get all of this data from the 'experts' - what about the people? We want to hear from the Buyers, the Sellers, the Investors in the Local Markets - is it REALLY that bad? - and what's the impact been on your home town? -Are local businesses feeling the 'crunch'? - Are rents rising as homeowners fill up available units? - Has a dark cloud of depression been hanging over your neighborhood??
The part that is often 'missed' in the reports and statistics is the impact on families, businesses, etc. We'd like to hear from the local experts exactly what is happening in these and other markets as 'creative lending practices' and 'aggressive ARMs' topped with a changing economy and marketplace have created this massive shift in home ownership.
Come on folks, let's hear from you all. Agents, Brokers, Lenders - chime right on in, too. We know that you understand the market best of all.
If you haven't 'blogged' before - give it a shake - we think you'll LOVE it.
It's easy, and you are more than welcome to remain 'anonymous' too...of course, if you have some tremendous wisdom to share here, feel free to shamelessly pimp yourself to the Gazillion or so folks that visit MyREALTY.com to Buy, Sell, Invest, and Educate themselves every single day.
Thanks in advance folks - it's wonderful to hear from you - now... what say ye?!
We ask you to write in and let us know - is it Hype or Reality?
Okay, so I'm checking out the list of top 10 foreclosure markets (here in the U.S.A, for all you Canadian viewers out there - sorry!) - and we've all heard the bad news.
Times are TOUGH out there folks...according to Business 2.0 magazine, it's like this for the Top 10 foreclosure cities:(2006 data)
1) Greeley, CO
2) Detroit, MI
3) Miami, FL
4) Indianapolis, IN
5) Fort Lauderdale, FL
6) Denver, CO
7) Dayton, OH
8) Dallas, TX (question - is it *really* Dallas?? Or more like Plano...?!)
9) Ft. Worth, TX (same comment as above)
10) Atlanta, GA
So, what we're wondering is this: We get all of this data from the 'experts' - what about the people? We want to hear from the Buyers, the Sellers, the Investors in the Local Markets - is it REALLY that bad? - and what's the impact been on your home town? -Are local businesses feeling the 'crunch'? - Are rents rising as homeowners fill up available units? - Has a dark cloud of depression been hanging over your neighborhood??
The part that is often 'missed' in the reports and statistics is the impact on families, businesses, etc. We'd like to hear from the local experts exactly what is happening in these and other markets as 'creative lending practices' and 'aggressive ARMs' topped with a changing economy and marketplace have created this massive shift in home ownership.
Come on folks, let's hear from you all. Agents, Brokers, Lenders - chime right on in, too. We know that you understand the market best of all.
If you haven't 'blogged' before - give it a shake - we think you'll LOVE it.
It's easy, and you are more than welcome to remain 'anonymous' too...of course, if you have some tremendous wisdom to share here, feel free to shamelessly pimp yourself to the Gazillion or so folks that visit MyREALTY.com to Buy, Sell, Invest, and Educate themselves every single day.
Thanks in advance folks - it's wonderful to hear from you - now... what say ye?!
Labels: Atlanta, Business 2.0, Feedback, Foreclosures, Investors
posted by MyRealty.com at
3:03 PM
7 Comments:
yeah - I heard that about Greeley - but I also heard another report that said Greeley Colorado was the #1 fastest growing (booming) real estate market in the US - topping Henderson, NV for the honors.. perhaps the 2 are related stats, or so it would seem?
ahhh.. cool. I didn't know you could post as 'anonymous'. I just hate to have to sign up for stuff. ;-)
Thanks for asking! It's not so bad in Weld County, CO. We have experienced tremendous growth, and with that came questionable lending practices. Our large community of migrant workers were sold what looked like the American Dream and woke up to a financial nightmare.
It all seems like such a hoax to me...the foreclosure increase. If there are so many foreclosures, then why aren't people buying them up instead of buying new homes or homes that are much more expensive? What are the risks involved in purchasing a foreclosure?
Mainly just that the owners are usually pretty down-trodden or even ticked-off, so the care of the property may not have been the 'best'... it could even be neglected OR foreclosed upon due to other circumstances, like a termite problem, etc.
Caveat Emptor!!
well it would be nice to know when you drive the neighborhood which homes are foreclosures, deals, etc. It seems like all we ever find is the realtor houses and they are way too expensive in my area. Is this the same everywhere? my guess is 'yes' you probably have to be someone special to find the foreclosure deals. That is why I looked on MyREALTY.com. . .
What about Atlanta?
I see more and more foreclosures her too, but do they just get listed by agents after that or can we go buy them from the banks or lenders directly?
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