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: 37,970
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: 37,970
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: 37,970
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
Business Overload
Chilehead
05-06-2016 09:27 PM
Today 06:43 PM
by Chilehead
15 717
Hello Everyone
JohnsLawnCare
06-22-2016 11:14 AM
Yesterday 09:38 AM
by SC93
9 170
Newbie
Jhoell
Yesterday 03:28 AM
Yesterday 03:28 AM
by Jhoell
0 36
Firefighter gone Lawn...
Firehouselawn@hotmail.com
03-10-2016 04:50 PM
06-24-2016 07:26 PM
by acrajchel
9 10,085
Exmark Turf Tracer
acrajchel
02-01-2014 11:34 AM
06-24-2016 07:23 PM
by acrajchel
5 2,114
Rubber mulch...
avetslawncare
06-24-2015 09:28 PM
06-24-2016 06:59 PM
by acrajchel
7 3,022
3 Applications or 5...
stansg1fresh
02-18-2013 12:02 PM
06-24-2016 06:48 PM
by acrajchel
2 1,375
Checmial Applications
acrajchel
06-24-2016 06:44 PM
06-24-2016 06:44 PM
by acrajchel
0 36
Ybravo 25 mowers
SGL1
06-11-2016 09:52 AM
06-21-2016 03:44 PM
by acrajchel
5 278
Great Arborist Ladder
SGL1
06-04-2016 09:56 AM
06-17-2016 08:46 AM
by SGL1
10 369
Help a Brother Out -...
Hedgemaster
01-23-2012 04:19 PM
06-17-2016 08:28 AM
by SGL1
94 34,428
Best Push Mower You Have...
markty
05-14-2016 03:46 PM
06-17-2016 06:08 AM
by SGL1
20 830
anyone interested in a...
GoGreenerKS
06-16-2016 01:00 PM
06-17-2016 02:58 AM
by SC93
4 162
Prolin
rmccutchan
05-21-2016 04:53 PM
06-16-2016 05:28 PM
by acrajchel
3 319
Laying new grass, Sod...
WarriorLandscapingCAN
05-23-2016 10:07 AM
06-16-2016 05:27 PM
by acrajchel
2 310
Is it too late?
Cpadgett
05-28-2016 09:10 AM
06-16-2016 05:24 PM
by acrajchel
6 423
Upgraded to a new mower
Stevenor92
05-17-2016 08:17 PM
06-16-2016 05:22 PM
by acrajchel
9 534
How can I fix my...
WarriorLandscapingCAN
06-10-2016 07:47 PM
06-16-2016 05:19 PM
by acrajchel
2 221
Need a lil help
Cpadgett
06-05-2016 09:51 AM
06-16-2016 05:17 PM
by acrajchel
5 349
help with sole...
greenbuds
03-24-2016 12:21 PM
06-16-2016 05:01 PM
by acrajchel
4 9,742
New Member from...
tiptoppmanager
06-15-2016 07:39 AM
06-15-2016 03:18 PM
by SC93
2 160
Say Hello !!!
Steve
03-19-2007 11:18 AM
06-14-2016 08:16 AM
by poppyanne
1,252 437,895
Brand new fish pond
Flynn landscaping 2016
06-12-2016 09:53 AM
06-13-2016 11:21 AM
by Steve
1 139
Whats up??
Cpadgett
05-27-2016 10:57 AM
06-06-2016 08:46 PM
by Cpadgett
11 495
New Member from Texas
NathanR
06-02-2016 06:13 PM
06-03-2016 09:17 PM
by SC93
7 317
Edging Fad...
Tree geek
05-10-2016 11:29 PM
06-03-2016 07:02 PM
by SGL1
3 487
To mow weekly or Biweekly
WarriorLandscapingCAN
05-11-2016 04:09 PM
06-03-2016 06:42 PM
by SGL1
11 766
Your Time Lawn Care
yourtimelawncare
05-31-2016 01:12 PM
06-02-2016 10:11 PM
by SC93
2 282
» Popular Tags
become an entrepreneur best mower be your own boss break business education business help business management contractor hacks deck lift dethatcher edging entrepreneur entrepreneur education estimates fuel problems fuel pump half moon blade hydro jjandm lawncare l.t.rich landscape landscape design landscaping landscaping design company landscaping richmond va landscping lawncare lawn mowing lawnservice lowering grade marketing mulch new business planting plowing raising grade residential lawn care richmond va richmond virginia lawn care roundup safety scag snowblower snow plowing snow shovel solo solo backpack sprayer sprayer start a business start a lawn care business start business start up swzt toro timecutter tree tree pics tree service video walk behind what to charge work from home z-max z-spray
Powered by vBadvanced CMPS v3.1.0

All times are GMT -5. The time now is 10:17 PM.


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

All times are GMT -5. The time now is 10:17 PM.

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