Lawn Care Business Forum Lawn Care Business Book Lawn Care Business Blog Lawn Care Software
Home Forum Contract & Flyer Templates Blog Software Videos Podcast Calculators / Estimators Store Mower Review Design It Yourself Lawn Business School

Go Back   GopherHaul Landscaping & Lawn Care Business Marketing Forum > Lawn Care, Landscaping, and Property Management Forums > General Talk

General Talk If it doesn't fit anywhere else, post it here.

Are home foreclosures up in your area?


General Talk

If it doesn't fit anywhere else, post it here.
Reply
 
Thread Tools Search this Thread
  #1  
Old 07-21-2007, 06:15 AM
Steve's Avatar
Steve Steve is offline
Administrator
 
Join Date: May 2003
Posts: 37,566
Rep Power: 10
Steve has disabled reputation
Default

Are you noticing more home foreclosures in your area?

I was reading more about the current state of the real estate market and I learned something interesting.

If a home is foreclosed on and sold, you still can be held liable for the difference!

Most ruthless foreclosure states - One more wrinkle for home owners to note is that simply because they've lost their properties to foreclosure, it does not always mean they're completely off the hook for their debts. If the auction sale brings less than the amount owed to the lender, it may still go after the borrower for the balance.

That's called a "deficiency judgment," and it's a right that lenders do not enjoy in every state. As a practical matter, deficiency judgments rarely occur, but Jacobson knew of at least one case where it was invoked.
__________________
- Subscribe to my Lawn Care Marketing Blog Feed and get daily tips sent to you. Free!
Download your Free trial of Gopher Lawn Care Software.
Reply With Quote

Stop guess-timating. Learn how to estimate and make money! $$$
Mow Time Estimator Lawn Care Price Estimator Mulch and Topsoil Calculator Snow Plow Estimate Calculator


  #2  
Old 07-21-2007, 06:35 AM
S.P.Martin Lawn Care
Guest
 
Posts: n/a
Default

Lawn care business tipsLawn Care Business Book
I've noticed a fair number of foreclosure notices posted in the local newspapers over the past year or so. Out of curiosity, I have checked out a couple of the houses to get an idea of the price range and what condition the properties were in.

From what I have seen, its the more expensive, $250K and up houses that are being foreclosed. Makes me think that the soon to be former owners were either, A-champagne appetite w/beer wallets, B-victims of downsizing, C-deadbeats, or D-all of the above.
Reply With Quote
  #3  
Old 07-21-2007, 07:14 AM
tiedeman
Guest
 
Posts: n/a
Default

Our states economy is horrible and has been for the last 5 years. We are second only behind Mississippi. My wife and I started home shopping back in March and probably 75% of the homes we looked at were foreclosures.
Reply With Quote
  #4  
Old 07-21-2007, 08:03 AM
Steve's Avatar
Steve Steve is offline
Administrator
 
Join Date: May 2003
Posts: 37,566
Rep Power: 10
Steve has disabled reputation
Default

What's your take on the housing market? Are we at bottom yet or how much longer do we have to go?
__________________
- Subscribe to my Lawn Care Marketing Blog Feed and get daily tips sent to you. Free!
Download your Free trial of Gopher Lawn Care Software.
Reply With Quote
  #5  
Old 07-21-2007, 08:35 AM
S.P.Martin Lawn Care
Guest
 
Posts: n/a
Default

Its turning into a buyers market in my neck of the woods. Some good deals to be had and interst rates are not that bad yet.

I just thought of another cause for foreclosures. Variable rates are going up and balloon payments are due. Those have caught up more than few homeowners.
Reply With Quote
  #6  
Old 09-18-2007, 12:25 PM
TexaSstar TexaSstar is offline
Members
 
Join Date: Sep 2007
Posts: 16
Rep Power: 8
TexaSstar
Default

I happen to be in the mortgage business and I can tell you that it will get worse before it gets better. Analysts are calling for the situation to get better in 2009 but 2008 is going to be a bear! Adjustable rate (ARM) Mortgages that were originated in 2006 are going to reset in 2008 and some people will not be able to refinance OR afford the new payment. That is what is happening now, and the mortgage companies that gave these peoplel loans with ZERO down are not offering that type of mortgage anymore. So.... people cannot refinance to a fixed rate mortgage adn they cannot afford the new payments once the ARM adjusts. As a result home values are declining in most of the country so some people owe more than their house is worth. When you didn't put any money down, your credit already sucks and you owe more than the house is worth it is easy for people to walk away. Not pretty right now at all.



Reply With Quote
  #7  
Old 09-18-2007, 06:13 PM
Steve's Avatar
Steve Steve is offline
Administrator
 
Join Date: May 2003
Posts: 37,566
Rep Power: 10
Steve has disabled reputation
Default

Hi TexaSstar,

Thank you for your insight! Did you ever invest in real estate or do you plan on it?
__________________
- Subscribe to my Lawn Care Marketing Blog Feed and get daily tips sent to you. Free!
Download your Free trial of Gopher Lawn Care Software.
Reply With Quote
Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Forum Jump

» Recent Threads
  RatingTitle, Username, & Date Last Post Replies Views
Dane Scag
Steve
Yesterday 12:29 PM
Yesterday 12:29 PM
by Steve
0 43
24 and 50 acre cemetery...
grassmasterswilson
08-18-2015 10:09 AM
08-26-2015 02:42 PM
by Steve
13 442
Rookie business question...
WarriorLandscapingCAN
08-05-2015 05:20 PM
08-26-2015 02:33 PM
by Steve
3 356
How to clean an old...
rmccutchan
08-16-2015 05:23 PM
08-26-2015 02:31 PM
by Steve
9 354
how to make customers...
Bradcook21
05-27-2015 05:04 PM
08-26-2015 12:25 PM
by kslawn
19 3,659
Needing a website built
burtle
06-17-2015 09:02 AM
08-25-2015 11:31 AM
by acrajchel
9 2,419
Big mowing job
Bradcook21
07-30-2015 03:57 PM
08-25-2015 11:23 AM
by acrajchel
17 922
ZTR Review
Shark1611
05-31-2012 10:42 PM
08-25-2015 11:16 AM
by acrajchel
8 3,701
Hi Everyone
mmays29
08-25-2015 08:16 AM
08-25-2015 11:15 AM
by Steve
3 86
Should I buy this Exmark...
googus
07-03-2015 09:22 AM
08-25-2015 11:08 AM
by acrajchel
11 1,117
Old Business New Owner
Toyman
06-17-2014 08:57 PM
08-25-2015 11:00 AM
by acrajchel
17 1,524
Hi everyone! We're new...
alltrades
08-22-2015 12:46 PM
08-24-2015 10:41 AM
by Steve
2 139
CAn I get some help with...
rootytalbot
08-11-2015 06:14 PM
08-24-2015 10:36 AM
by Steve
12 450
Hi
Wemowjunction
08-16-2015 08:45 PM
08-20-2015 01:46 PM
by Steve
11 357
Drive cable bad?
SGL1
08-10-2015 11:16 PM
08-20-2015 01:41 PM
by Steve
5 320
Hey there everyone
Cole8999
08-16-2015 04:42 PM
08-18-2015 04:35 PM
by Steve
3 216
Help with a truck
bdodson89
04-27-2015 08:15 PM
08-18-2015 11:47 AM
by rmccutchan
7 921
I need some aeration...
rootytalbot
08-14-2015 12:32 PM
08-18-2015 07:59 AM
by rootytalbot
7 341
Say Hello !!!
Steve
03-19-2007 11:18 AM
08-17-2015 04:34 PM
by Steve
1,229 405,742
Whats wrong with this...
GreenWorx
07-28-2015 07:56 PM
08-16-2015 11:42 PM
by rmccutchan
3 554
What's your next...
Steve
05-15-2015 11:54 AM
08-16-2015 11:09 PM
by SC93
16 1,196
These are the days on...
ExtremeLawncareServices
01-11-2015 10:41 AM
08-14-2015 11:08 PM
by scaypa
95 11,363
New Biz
kufnerins
08-14-2015 05:52 PM
08-14-2015 08:56 PM
by Steve
1 187
Chemical and Fertilizer...
rmccutchan
08-09-2015 10:36 PM
08-13-2015 11:11 PM
by rmccutchan
6 363
String trim BEFORE mow...
Mr. Mow
04-12-2015 08:13 AM
08-13-2015 02:10 PM
by rootytalbot
12 2,024
Hello all thinking about...
bernie
08-11-2015 04:28 PM
08-13-2015 10:33 AM
by Steve
8 331
Logo Help Font Color
LZLC
08-08-2015 09:26 PM
08-12-2015 03:50 PM
by Steve
4 305
Pricing issue
Mr. Mow
07-07-2015 06:15 AM
08-12-2015 12:30 AM
by Jeff1
20 1,746
My new mower
Chilehead
08-08-2015 09:09 PM
08-11-2015 08:36 PM
by Chilehead
9 466
Thought this was a good...
Just for Cuts
08-06-2015 03:38 PM
08-11-2015 10:54 AM
by Steve
8 462
Plowing pricing
jcurr33
08-08-2015 04:58 PM
08-11-2015 10:51 AM
by Steve
6 428
Should I upgrade my back...
googus
08-07-2015 10:50 AM
08-11-2015 10:44 AM
by googus
7 397
Keeping it clean....
Wolf4dk
08-09-2015 11:31 PM
08-11-2015 06:34 AM
by Chilehead
7 325
I have been rude and...
biglee
06-15-2015 10:11 PM
08-10-2015 09:41 PM
by stallman419
12 2,704
Newbie Saying Hi.
LZLC
08-08-2015 09:22 PM
08-10-2015 11:20 AM
by Steve
1 232
How much do I charge to...
Chris Herrera
08-06-2015 09:30 PM
08-09-2015 11:31 AM
by biglee
2 366
scag SWZT review!
mattthelawnguy
07-23-2015 02:28 PM
08-07-2015 03:26 PM
by Steve
17 1,091
Best commercial contract...
sanlanct
08-04-2015 12:18 PM
08-06-2015 06:20 AM
by sanlanct
2 362
I came across this on a...
rootytalbot
08-02-2015 11:04 AM
08-05-2015 08:17 PM
by SC93
9 601
Help bidding a hedge...
hopolb33
08-02-2015 06:09 PM
08-05-2015 02:07 PM
by Steve
3 401
recycler toro 22"
rvezakis
08-03-2015 12:10 PM
08-04-2015 11:47 AM
by Steve
1 283
Hello Everybody
budspop
07-30-2015 11:42 AM
07-31-2015 12:28 PM
by Steve
1 275
» Popular Tags
ad landscaping advertising aerocore applying bark blowout bob villa bush collections contract help curb appeal services deliquentaccounts demonstration design door hangers edging employee problems equipment dealer equipment rental facebook flyers free advertising free lawn care google growing a lawn care business hiring how to hydro increase customers jobs landscape landscaping landscaping training lawn aeration lawn care lawn mowing marketing marketing secrets more customers business mr dave mulch new business ordinance past due per hour charge per hour service plowing pricing profit on employee roundup scag secrets to landscaping sell the vision seo shell shreaded solo sq ft square foot swzt tree tree pics up sell employee walk behind web design website website design winterization wood www.greenturion.co.za
Powered by vBadvanced CMPS v3.1.0

All times are GMT -5. The time now is 09:06 AM.


(C) 2011 Riggs Publications - Terms of use & Privacy Policy

All times are GMT -5. The time now is 09:06 AM.

(C) 2011 Riggs Publications - Terms of use & Privacy Policy