Announcement

Collapse

Forum Rules (Everyone Must Read!!!) (updated: 04/28/2015)

Welcome to the Bankruptcy Forum. Bankruptcy (BK) Forum is known as BKForum.com and will be referred to as BKF hereinafter. In order to ensure a long term success of our vibrant community, we have established certain rules and guidelines to which everyone must adhere to. Please take your time to carefully read our rules, before you start to participate in the community.

Things you agree to do:
BKFORUM.com (BKF) users agree to use the search function before starting a new thread. This prevents duplicate discussions and allows for better organized topics.

All BKF users agree to read the sticky posts which may be available at the top of a forum page. These Sticky posts often contain valuable information. They may also outline more rules and guidelines specific for that particular forum, stickies are put in place by that forums moderator(s) or admin(s).

Things you agree not to do:

All BKF users agree not to call people names or write a post simply to make a personal attack, or get a negative reaction; this behavior is not allowed on our forum. The use of derogatory language aimed at anyone will be severely dealt with. There is no need to agree with each other, or to even like each other. However, by signing onto BKForum.com you agree to treat each member and guest with the respect they deserve. No threats or personal attacks will be allowed.

All BKF users agree not to discuss, engage, or encourage any behavior or activity which violates the law. Discussion of drugs, violence, murder, theft, vandalism, fraud or any other issue which could be used to help individuals break the law is strictly forbidden.

All BKF users agree not to "bump" old threads, unless there is a specific benefit to the community by doing so. But in most cases, please don't post in very old threads, instead start new threads.

All BKF users agree not to attempt/use another members account. It is against BKF rules to use any account other than your own. Impersonating another member will result in an immediate ban. It is also against the rules to open more than one account in your own name without permission from a moderator or administrator. If you have been banned for any reason, it is against the rules to open another account. If you were banned temporarily and you are caught using another account you will be banned permanently. Choosing a moniker which is similar in either sound or spelling as a moderator or administrator is strictly forbidden.

All BKF users agree not to private message any moderator, admin, or other member with questions related to their personal circumstances (Questions about the forum or issues with the forum are ok). This forum only works when members share their experience and insights with everyone.

Things you agree not to post:
All BKF users agree not to post any derogatory/racist/or sexist remarks. This includes attachments, links and all information contained within posts, signatures, and avatars, failure to comply with this rule will result in a permanent ban.

All BKF users agree not to post any copyrighted or trademarked information without the express written permission of the owner(s) / proper citation of source.

All BKF users agree not to post any real names, addresses, telephone numbers, email addresses, social security numbers, or any other personal details (their own or other people's).

All BKF users agree not to post links, pictures, attachments, videos, or the like of pornographic content, objectionable material or extreme violence, whether cartoon or real.

All BKF users agree not to use BKF for advertising purposes without a written contract between yourself/company/agent and the administration of BKF. Blatant advertising will result in a ban.

All BKF users agree not to spam the forums. Spam includes but is not limited to posting erroneous, non-relevant-useless, off-topic, or meaningless posts. Spam may also include posts which contain no text, or large areas of blank space between lines. Simply posting emoticons without text is considered spam. BKF is the largest bankruptcy message board and all the content is intended to help other users. Please help us improve the quality of our forum by making sure that your posts are well-worded, spell checked, grammatically correct and syntaxed.

Regarding actions of moderators and administrators:

The forum is no place to air out your opinion or be judgmental of our staff and its capabilities.

All BKF users agree not to abuse or mistreat moderators or administrators. It is against BKF rules to post any information regarding bans or any other action taken by a member of the moderating or administrative team. If you wish to discuss bans or warnings please do so via PM. To place a complaint against a moderator, send a PM to a super moderator. All Moderators are equal, any decision made by a moderator must be adhered to. If a moderator tells you something you do not like, do not go to another moderator looking for a different answer. If you are caught doing this you will be banned. The moderators work as a team and respect the decisions made by their peers and will help enforce them unless an administrator tells them differently.
If you have an issue with how the forum is run, then notify one of our administrator and we will look into the situation. We have in the past and still do appreciate any input that you offer this forum. But critical input and/or judgmental postings towards the staff will result in you getting banned.


Should you find a thread offensive or out of line, then notify a Mod in a PM so they can evaluate the situation and do the action deemed necessary.

All moderators do have active "other" lives outside of the forum and help moderate this forum in their spare time throughout the days and weeks.

If you have a problem with a member or Mod follow the proper channels of reporting it.

BKF reserves the right to delete any posts which contain anti-BKF comments or discussion. Any bashing of moderators or administrators, or any of their discussion or actions will also be deleted, and the responsible posting party(s) will be banned. Any public anti-BKF advertising, communication, or posts on another forum will result in permanent bans as well.

All warnings and bans are decided by individual moderators and administrators. Warnings are preferable to bans however, for serious offenses and repeat abusers bans will go into effect. The length of the bans can vary from several hours to permanent.

All messages posted or sent including through PM are the property of BKforum.com.

All BKF users agree not to advertiser on the forum (Niether by posting, private messaging or using your signature). If you are a company/attorney/legal adviser wishing to advertise on the site or sell a product, you must contact the head administrator and inquire about our advertising packages.

All bankruptcy related opinions expressed on BKForum.com are those of their authors and not necessarily of BKF, its staff or representatives.

You agree not to copy any material/post/content from BKF without written permission from our head administrator .

By posting on this forum you agree to these terms and conditions, including any punishment deemed appropriate by moderators or administrators in the event of an offense.

Administrators/Moderators can change these rules at any time without prior notice.
See more
See less

Real Estate Discussion

Collapse
This is a sticky topic.
X
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • #46
    There are tons of rental properties here. College town. Ebbs and flows with classes being in session.

    Existing housing does not move and builders continue building new houses like crazy. These aren't local builders with a vested interest in their community. It's a handfull of large contractors from various parts of the country that have swooped in. Everywhere adjacent to the city boundaries where they can find a scrap of farmland, they buy, rezone, subdivide, and build.

    We have one of the highest Foreclosure Rates in the country. Except for the higher priced range homes. For some reason, $350K and up sell like hotcakes. But if you own a $100K, existing house, you might as well sit on it. Otherwise, you're gonna sell for less than you paid.
    Filed Ch 7 - 09/06
    Discharged - 12/2006
    Officially Declared No Asset - 03/2007
    Closed - 04/2007

    I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.

    Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...

    Comment


    • #47
      Another critical element that really isn't helping with the inflated cost of real estate is how mortgage lenders are now offering 40 and 50 year mortgages---that are intended to make $300+ mortgages more affordable to buyers within the middle-income bracket.
      The information provided is not, and should not be considered legal advice. All information provided is only informational and should be verified by a law practioner whenever possible. When confronted with legal issues contact an experienced attorney in your state who specializes in the area of law most directly called into question by your particular situation.

      Comment


      • #48
        Originally posted by HRx View Post
        Another critical element that really isn't helping with the inflated cost of real estate is how mortgage lenders are now offering 40 and 50 year mortgages---that are intended to make $300+ mortgages more affordable to buyers within the middle-income bracket.
        Yes, and those are really nothing when compared to the interest only loans...

        Comment


        • #49
          Originally posted by FilingOnMyOwn View Post
          Yes, and those are really nothing when compared to the interest only loans...
          That's another thing. But when lenders offer loans that are for 40, and 50 years. This only makes it easier for sellers to continue to increase the selling price of homes. Which is rediculous. The astronomical increase in real estate--within the high-economic regions on the U.S. isn't because theirs a lack of inventory. What there is a lack of is---affordably-priced homes!! The inflated cost of real estate is do to sheer greed, from private sellers, builders, investors, lenders...hell local governments even enjoy the real estate trend, because they're getting more money in property taxes each year.
          The information provided is not, and should not be considered legal advice. All information provided is only informational and should be verified by a law practioner whenever possible. When confronted with legal issues contact an experienced attorney in your state who specializes in the area of law most directly called into question by your particular situation.

          Comment


          • #50
            The problem is that when you stretch the term, the price ultimately will increase. Availability of Insurance raised the medical costs, it holds true in any industry. Better to have ten year Mortgage limits, no Insurance at all, no Governmanent giveaways to raise the cost of education, etc... That isn't going to happen so I AM NOT arguing all of that, simply stating that raising the term will ultimately allow HUGE increases in price.

            My DAD bought cars on the streetched two year plan in the sixties

            Comment


            • #51
              Originally posted by HRx View Post
              That's another thing. But when lenders offer loans that are for 40, and 50 years. This only makes it easier for sellers to continue to increase the selling price of homes. Which is rediculous. The astronomical increase in real estate--within the high-economic regions on the U.S. isn't because theirs a lack of inventory. What there is a lack of is---affordably-priced homes!! The inflated cost of real estate is do to sheer greed, from private sellers, builders, investors, lenders...hell local governments even enjoy the real estate trend, because they're getting more money in property taxes each year.
              It all goes back to the statements of the greatest economists of all time, who agree that the true cost of inflation is easily loaned money.

              With the interest only loans, thats not even like a 40 or 50 year mortgage, because the principal NEVER GETS PAID. And with the "1%" mortgage, your principal balance actually goes up over time. So when you sell your house in 10-15 years, and it didn't appreciate, you would lose money as you would owe more than what you paid for it.

              Comment


              • #52
                Housing starts plunge
                Government report shows 14% drop in pace of new homes started in January, well below forecasts; permits also fall.
                February 16 2007: 8:51 AM EST


                NEW YORK (CNNMoney.com) -- Housing starts plunged in January to the slowest pace in more than nine years as the latest government reading on the battered housing market came in much weaker than forecasts.

                New homes started in January fell 14.3 percent to an annual rate of 1.41 million from the 1.64 million pace in December, the Census Bureau reported Friday. Economists surveyed by Briefing.com had forecast a 1.6 million rate for January.

                The last time starts fell to this slow a pace was August 1997.

                The number is not only well below the December pace, but it is 22 percent below the average for all of 2006, when housing was already slowing down, and about 32 percent below the record building pace through all of 2005.

                Applications for new home permits, which is generally viewed as a measure of builders' confidence in the market, fell 2.8 percent to an annual 1.57 million rate from 1.61 million a month earlier, which was a bit below economists' forecast of a 1.59 million pace.

                The housing permit reading was helped by a second straight month of strong permit application for buildings with five or more units. The permits for single-family homes fell 4 percent to a six-year low.

                The one piece of good news in the report is it could help cut down on the glut of homes available for sale on the market, which has been pushing down prices for both new and existing homes. But it also suggests that builders aren't seeing the stabilization in housing that some economists had been looking for.

                The housing sector hit a severe slump in 2006 after a record building boom in 2005 left a glut of homes available for sale on the market, pushing down prices. On Thursday, the National Association of Realtors reported the deepest and most widespread decline in home prices on record during the fourth quarter.

                But some other recent readings have also suggested a more recent stabilization in the battered real estate market. The National Association of Home Builders' survey of its members, released Thursday, showed builders' confidence at its best level since June, although the builders surveyed still saw the market as a weak one.

                The nation's leading homebuilders have all reported declining sales and prices for new homes, due greatly to the glut of new homes available for sale on the market. KB Home (Charts) reported a net loss of $49.6 million, or 64 cents per share, for the fiscal fourth quarter ended Nov. 30, earlier this week.

                Other leading builders reporting weakness in prices and reduced sales include Lennar (Charts), Pulte Home (Charts), Centex (Charts), D.R. Horton (Charts) and Toll Brothers (Charts).
                The information provided is not, and should not be considered legal advice. All information provided is only informational and should be verified by a law practioner whenever possible. When confronted with legal issues contact an experienced attorney in your state who specializes in the area of law most directly called into question by your particular situation.

                Comment


                • #53
                  Real Estate

                  Talked to my buddy, a realtor up in Crossville Tennesse. He says the boom is over and Florida money has dried up. He said it has cooled significantly.

                  We still have our place and still plan to build, maybe live there in spring and summer or possibly permamnent and do some Christmas there. Plans are somewhat fluid due to wife re-establishing her career after a twenty year hiatus.

                  SoFla is slow, our TH's still going in the 250k to 260 area according to a sale last month. No one is selling unless they are leaving the state. Of 104 homes in here none for sale today. I paid 86k in '01. If you move you pay taxes on the price of the new home (neighbor pays around 5k per year), if you stay increase can only be 3% per year. People staying put until the legislature hammers out the new deal in a afew weeks. Governor Crists deal does't look to good, a promise of 10.5% sales taxes with NO property tax may turn into 10.5 with a 20% cut, the shaft bigtime!

                  What's up in your area?
                  Last edited by robivi3; 04-30-2007, 04:03 PM.

                  Comment


                  • #54
                    Please continue this discuss in the sticky thread regarding real estate. This will help organize this content/topics.

                    Thanks!
                    The information provided is not, and should not be considered legal advice. All information provided is only informational and should be verified by a law practioner whenever possible. When confronted with legal issues contact an experienced attorney in your state who specializes in the area of law most directly called into question by your particular situation.

                    Comment


                    • #55
                      didn't realize we had the sticky. we ended up not selling the land in TN and they let us back out of it. it was just to nice a place once we went back again.

                      Comment


                      • #56
                        It definately appears as though real estate prices are dropping now! I'm now seeing single family houses listed in sought after areas in the $400-$500k range now! A year ago, you could only purchase a condo, or townhouse for this price!! The real estate crash panic, is just causing more, and more owners to list thier properties for sale, increasing inventory...which is ultimatley helping to reduce the supply & demand theory causing prices to drop. :-)
                        The information provided is not, and should not be considered legal advice. All information provided is only informational and should be verified by a law practioner whenever possible. When confronted with legal issues contact an experienced attorney in your state who specializes in the area of law most directly called into question by your particular situation.

                        Comment


                        • #57
                          It's definately nice to finally see real estate prices begin to drop!! Prices are still high for what you get...but I'm keeping my fingers crossed for prices to continue dropping, which I believe will continue to happen. The average price for a single family home in the Northeast is simply absurd!!
                          The information provided is not, and should not be considered legal advice. All information provided is only informational and should be verified by a law practioner whenever possible. When confronted with legal issues contact an experienced attorney in your state who specializes in the area of law most directly called into question by your particular situation.

                          Comment


                          • #58
                            Originally posted by HRx View Post
                            It's definately nice to finally see real estate prices begin to drop!! Prices are still high for what you get...but I'm keeping my fingers crossed for prices to continue dropping, which I believe will continue to happen. The average price for a single family home in the Northeast is simply absurd!!
                            We're currently looking to buy our first house and thanks to the drop in prices, we can finally afford one! Here in Southern California the prices are so sky high but they are slowly coming down. Also there are lots of short sale/foreclosures/bank owned properties out there. Most are brand new homes too. I'm hoping it gets better over the next few months. I'm sick of renting this house.
                            Yo ho, Yo ho, a pirates life for me
                            Discharged 9/1/04

                            Comment


                            • #59
                              I know that SoCal has some extremely high prices for modest property. The median prices up here in Ma. isn't quite that bad, but they are by no definition "affordable"!! lol
                              The information provided is not, and should not be considered legal advice. All information provided is only informational and should be verified by a law practioner whenever possible. When confronted with legal issues contact an experienced attorney in your state who specializes in the area of law most directly called into question by your particular situation.

                              Comment


                              • #60
                                The latest report that was posted after a national realtor convention in D.C., stated that many industry gurus are anticipating that the real estate slump will continue to worsen, and sag through 2009.
                                The information provided is not, and should not be considered legal advice. All information provided is only informational and should be verified by a law practioner whenever possible. When confronted with legal issues contact an experienced attorney in your state who specializes in the area of law most directly called into question by your particular situation.

                                Comment

                                Unconfigured Ad Widget

                                Collapse
                                Working...
                                X