Or at the least we are at the bottom. I have been tracking foreclosures in the newspaper for the past 18 months and they are certainly down. So I think in my area they are clearing out of the market.

Prices have come down a bit, and seem to be more stable.

Inventory is still very high, but its not growing. If anything shrinking slightly as unserios sellers take there homes off the market.

A lot of the new houses we are building are selling after only a few months on the market. Where as last year they took 6 months.

The storm is certianly far from over, but its not that bad out their right now. As long as nothing else changes, knock on wood I think we should see a turn around in 2010/11. I think fuel prices are hurting it more than anything now.

IMHO we are at or near the bottom. But real estate is local, a lot of other areas are getting hit harder. San Deigo was a blood bath compared to CT when I was out their in Feb.

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1999 SL500
1969 280SE
2023 Ram 1500
2007 Tiara 3200

I rented a patio home for three years and I moved out 1.5 years ago. the house went on the market a month after I moved out and has been for sale ever since. The county valued the house at about 100K (a 1500 sq. foot 2 bedroom 2 bath home with a 2 car carport) and the owner started out asking 115K. She went down to 107K and is now at 100K.

My sister is closing on her home tomorrow (she and her husband are first time home buyers). For $140K she is getting a 3146 sq. foot home, 3 bedrooms and two and a half baths, both formals, a 2 car garage, and an addition that includes a 21'x20' efficiency mother-in-law apartment with it's own outside entrance (I'm moving into that), full bath and kitchenette. Oh, and the backyard is on the golf course. Yeah, they are getting a great deal on the house, but it also means that the owner of the first house is asking WAY too much. She's in Atlanta so she really has no idea what the market is like here apparently.

There are some great deals to be had here in Houston at the moment.

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TXBill



Former owner of a few diesel MB cars
1998 Lexus ES 300 In Chicago We Trust

Louisiana ranks 47th in foreclosure, according to this morning's local newspaper.

Finally, being almost last is a good thing.

B

Wow its amazing how cheap you guys can get homes down their. A house like that up here on a golf course would be 7-10 times as much.

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1999 SL500
1969 280SE
2023 Ram 1500
2007 Tiara 3200

Actually the golf course is closed but the grounds are still kept up. You could still play golf out there I suppose but I'm going to get a couple of used golf carts and we are gonna play out there Jackass-style.

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TXBill



Former owner of a few diesel MB cars
1998 Lexus ES 300 In Chicago We Trust

Well maybe not that much than since its closed. I was looking at ones for sale at the PGA tournament a few weeks ago and they were expensive. They were on a PGA course though, so you get what you pay for.

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1999 SL500
1969 280SE
2023 Ram 1500
2007 Tiara 3200

Huh....Last month foreclosures up 51% ....No Hatt....THIS AINT THE BOTTOM...

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Matt (SD,CA)

1984 300SD.. White/Chrome Bunts..Green

1997 2500 Dodge Ram 5.9 Cummins 12 Valve 36 PSI of Boost = 400+hp & 800+tQ .. ..Greenspeed

2004 Dodge Ram 2500 4x4 Quad Cab Cummins 5.9 H.O "596hp/1225tq" 6 spd. Man. Leather Heated seats/Loaded..Flame Red....GREENSPEED

Global warming...Doing my part, Smokin da hippies..

Fight the good fight!......

Not in my area though, you guys out in CA are getting hit much harder than we are.

My uncle just put another house under contract this morning. It is only a 1/3 built.

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1999 SL500
1969 280SE
2023 Ram 1500
2007 Tiara 3200

I read that insiders at major home builders were buying stock. No link, can't remember where I saw it, but a good sign the bottom is near.

Oh yeah, now is when all the smart money is going to start coming back into the market.

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1999 SL500
1969 280SE
2023 Ram 1500
2007 Tiara 3200

No, it's the summer season there is a whole new round coming up soon, mortgage lates are still on the upswing.

A whole new round of what?

When someone says mortgage lates most people assume that foreclosures follow.

i was just oit in california in the san bernardino area and the people we stayed with said what people in that area do is they would buy a house and pay til the adjustable rate went up then quit paying.seems the banks would rather have somebody in the house rather then set empty. if the houses set empty the crackheads move in and start destroying them for anything they can sell for thier next hit.

Freddie mac and Fannie mae are having some rather large problems as well.

It seems like we are reaching a head on these credit issues, or at least we will before the year is out.

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1999 SL500
1969 280SE
2023 Ram 1500
2007 Tiara 3200