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: 38,003
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: 38,003
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: 9
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: 38,003
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
How much to charge for...
jymie
03-31-2013 05:59 PM
Today 02:08 PM
by Lori22
22 5,892
Hi from Long Island NY
Lori22
07-18-2016 02:01 PM
Today 01:50 PM
by Lori22
9 152
New Business Owner
danesdanglas87
07-20-2016 12:31 PM
07-21-2016 05:04 PM
by Steve
2 88
Hi! I'm Tony from Tampa
Lawnline
07-12-2016 06:47 PM
07-19-2016 04:45 PM
by Steve
5 606
Question about...
Bradcook21
07-18-2016 05:22 PM
07-19-2016 04:38 PM
by Steve
2 100
Hello from Watertown New...
lawnmanrick81
07-19-2016 03:57 PM
07-19-2016 04:11 PM
by Steve
1 48
Gutter Cleaning Tool
DanielThomas
07-18-2016 08:23 AM
07-18-2016 04:36 PM
by Steve
1 80
Starting on a lawn care...
Coco3465
07-16-2016 11:26 AM
07-17-2016 09:20 AM
by Steve
1 110
Aspiring Company Owner
TJ136
07-12-2016 05:12 AM
07-15-2016 02:52 PM
by SC93
6 212
Hi Everyone
JavelinaLawn
07-10-2016 07:29 PM
07-13-2016 02:01 PM
by Chilehead
5 742
Review of our lawn care...
Lawnline
07-12-2016 06:40 PM
07-12-2016 06:40 PM
by Lawnline
0 381
Custom Canopies
JohnsLawnCare
07-12-2016 08:38 AM
07-12-2016 04:14 PM
by Steve
1 258
Spot checked by...
Just for Cuts
06-28-2016 02:34 PM
07-11-2016 03:53 PM
by Steve
4 271
John Deere JS40 issues
Mr. Mow
07-06-2016 01:28 PM
07-11-2016 03:52 PM
by Steve
3 205
Start My Own Business?
mowandblow1980
01-12-2016 07:43 PM
07-11-2016 11:18 AM
by DanielThomas
15 1,743
Rubber mulch...
avetslawncare
06-24-2015 09:28 PM
07-11-2016 09:11 AM
by Chilehead
9 3,286
Firefighter gone Lawn...
Firehouselawn@hotmail.com
03-10-2016 04:50 PM
07-07-2016 05:07 PM
by Steve
11 10,521
I need some business...
Firehouselawn@hotmail.com
07-06-2016 05:42 AM
07-07-2016 05:00 PM
by Steve
4 242
Business Overload
Chilehead
05-06-2016 09:27 PM
07-07-2016 04:53 PM
by Steve
24 1,245
Chemical Applications
acrajchel
06-24-2016 06:44 PM
07-05-2016 12:38 PM
by Chilehead
6 359
Is it too late?
Cpadgett
05-28-2016 09:10 AM
07-05-2016 11:54 AM
by Steve
14 861
3 Applications or 5...
stansg1fresh
02-18-2013 12:02 PM
07-04-2016 09:19 AM
by LawnPerfection
9 1,690
Best Push Mower You Have...
markty
05-14-2016 03:46 PM
07-02-2016 03:41 AM
by markty
27 1,912
Great Arborist Ladder
SGL1
06-04-2016 09:56 AM
06-28-2016 08:04 PM
by mowandblow1980
11 679
Newbie
Jhoell
06-25-2016 03:28 AM
06-28-2016 02:11 PM
by Chilehead
2 260
Say Hello !!!
Steve
03-19-2007 11:18 AM
06-28-2016 11:02 AM
by Brownieboy
1,253 440,179
Hello Everyone
JohnsLawnCare
06-22-2016 11:14 AM
06-28-2016 08:36 AM
by Steve
13 503
Exmark Turf Tracer
acrajchel
02-01-2014 11:34 AM
06-24-2016 07:23 PM
by acrajchel
5 2,325
Powered by vBadvanced CMPS v3.1.0

All times are GMT -5. The time now is 02:39 PM.


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

All times are GMT -5. The time now is 02:39 PM.

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