Tag Archives: foreclosures

Feng Shui This | Foreclosure

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Bank Owned - CHEAP

 

Thinking of buying a foreclosure?  Think long and hard.  Some are indeed, great buys.  Others, not so much.

The feng shui of a property has a definate effect on the occupants of the home.

Many foreclosures have feng shui charts with the combination, “Bankruptcy”.  I wouldn’t want to try to live in a house with that tendency.  If you are wondering about the house you have in mind, consult a feng shui master or practitioner for advice.

To tell the truth, there are a lot of mansions that I would refuse to live in, knowing their feng shui.  And, that’s the truth!

 

Kentucky Real Estate | I’m waiting til prices go down…

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Your New Kentucky Home

Your New Kentucky Home

Are you waiting for the prices to drop more?  They probably will.   But, consider this, there will be more foreclosures, and this will place more homes on the market.  The more houses available, the cheaper  they will be as sellers try to entice buyers to their property.  It’s simple supply and demand economics.  When the world is covered in gold, the value of gold will be less.  When gold is rare, it’s priced higher.  

 This would seem to be a good thing for shoppers, but here’s the catch…looks like about April 1st the government will allow the interest rates to rise and we’ll see the interest rates go up substantially and quickly.

So, here’s the thing…you might get a better price on a house, but it will have to be a lot to make up what you’ll be spending on the higher interest rate.  Unless of course, you have the cash to buy what you want without worrying about the interest.  In that case, lucky you!

Kentucky Real Estate | Foreclosures Coming

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“Millions More Foreclosures Coming”

“The other shoe is about to drop. More bargains are going to be showing up on the local markets. I suggest that people with money start looking into investing that cash in real estate. It may be more secure than the banks. At least it will still be there down the road, even if the banks are not.”
John Mulkey, Housing Guru (TheHousingGuru.com)

If the economy is improving, do we really have millions more foreclosures coming? According to the U.S. Treasury, the answer is yes. In written testimony to Congress, Assistant Secretary for Financial Institutions, Michael Barr said that, regardless of the success of mortgage modification efforts, we should still expect millions more foreclosures.

Mr. Barr’s testimony is certainly not welcome news for those anticipating a significant recovery in the housing market. In fact, it is an indication that significant recovery is still years away.

And, there are other factors that confirm the fragile state of both the economy and the housing market. Recent reports have indicated that there are almost 3 million active, interest-only loans with a total value of almost $1 trillion, with loans of about $500 billion set to reset within the next 30 months. Then we have a large group of Option Arm mortgages set to recast during the next 2 years. These loans have a combined value of more than $125 billion.

The rising number of bankruptcies, up 36% in the second quarter over last year, with wealthy families filing at double that rate, creates a “perfect storm” of disastrous consequences for the housing market. With the likely prospect of millions more foreclosures coming, home prices and home sales will remain depressed until the market can achieve stabilization. And achieving stabilization will be a slow and painful process.