# Holy Crap! Work stuff....



## Indigo Bully Connection (Dec 21, 2006)

I am working on a report on a house in jacksonville. A big part of what I do is pulling statistics for the immediate area (within a mile). For this particular home.... within a 1 mile radius there have been a total of 62 homes who are either up for sale, the sale is pending or has sold within the last 6 months.... out of that 62 there are 34 homes which are Real Estate Owned (a foreclosure). I'm sick of seeing this people... start having some yard sales or something to make ends meet. there's no reason for 55% of homes should be a foreclosure. It just seems like people don't want to put the effort into work these days :hammer: I know it's not the case for EVERYONE, but I have seen a huge increase in foreclosures SINCE the announcement of a recession. Don't get me wrong there was plenty of business before hand, but it seems as soon as the government opened their mouths everyone stopped paying their bills.

Please try your best not to be another statistic.


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## Roxy_Nie (Oct 10, 2008)

Well I hope we will never be...LMAO


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## BLUE PIT BULL MAN (May 22, 2009)

people just think its cool to have a huge new house and over extend them selfs and people that should be in a 100k house are in 300k homes and people should look into capitolizing on others misfourtune and buying the forclosed houses not for high prices but from the taxs so there is no huge mortagage payments here you can get a house with a shop and 10 acres for 10k really 10k i see it all the time go to your county court house and ask about tax dilenquent property, it may need work but you save alot in a mortgage payment. people need to get creative and not be afraid of making investments but at the same time they need to be smart about the investments they make. good luck people. you don't need a book to get cheap property you need the county court house.


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## Indigo Bully Connection (Dec 21, 2006)

hey blue I have heard about that. IDK how it works there. I asked my mom about this who has been in real estate for eons...she says you go and pay their taxes and they have X amount of time to pay you back otherwise it goes to auction, or you can assume the property...blah something like that, but I've always wondered if it was that simple.


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## BLUE PIT BULL MAN (May 22, 2009)

yeah just go find the ones that did not sale at auction and you only have to pay the taxes owed and the people have 30 days to come up with your money and if they don't its yours forever or till you sell it or loose it in back taxes lol. if you wanna know more pm me i will explaine. some property comes with a 90 day litagation period but you want the quick ones the faster you got your paper work the sooner you can start working on it or moving in or telling the people that you will rent them there old house


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## FloorCandy (Feb 19, 2009)

My friend tried to buy one of those tax delinquent homes, and I don't know if NJ is different then where you are Blue, but he had to go to the auctions, and hope no one showed up to represent the owners, and usually someone does, and it get pushed back numerous times. He also had to hire a lawyer to research if the title was clear, as you can end up owing much more than the house is worth if there are liens and stuff I think, he tried to explain it all to me, but after 6 months of going to auctions, and dealing with lawyers, he gave up. Other states might be different, as in my state there are title companies, so I would guess it is easier to research a title that way, but I don't know much about it all.


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## BLUE PIT BULL MAN (May 22, 2009)

you just have to find the homes that did not sell at auction. they will be classified differantly with your commissioner of state lands. like here we have s-1, s-2, s-3, s-4
s1 being the newest tax propert and 4 being the oldest on the list s-2 have gone to auction already and did not sale but have a 1 year litagation period and s-3 have a 10% fare market value requirement and s-4 are for back tax only. i go for the back tax s-4 style ones, because of the short 30 day litagation period. they are either really cheap or really expensive and thats why they are still there and some places have lists of property by parcel number or section number. and there are web sites that have the parcell numbers already turned into an address for you. that keeps you from having to go to the tax assesors office alot and i like to google earth the adresses when i find them so i can get an idea of what it looks like with out having to actualy go see it and if i like every thing i see then i will make a trip i hope this has shed some light for you.


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## buzhunter (Sep 3, 2007)

If you take government and politics out of this equation America wouldn't be in a financial crisis right now. Which is exactly why the solution to this problem isn't more government, and a big fat bailout, but rather a return to a strictly free private sector market.:stick:

When Community Organizers And Big Government Force Banks To Give Bad Loans | Say Anything: North Dakota's Most Popular Political Blog


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## FloorCandy (Feb 19, 2009)

buzhunter said:


> If you take government and politics out of this equation America wouldn't be in a financial crisis right now. Which is exactly why the solution to this problem isn't more government, and a big fat bailout, but rather a return to a strictly free private sector market.:stick:
> 
> When Community Organizers And Big Government Force Banks To Give Bad Loans | Say Anything: North Dakota's Most Popular Political Blog


I think it also has to do with people overextending themselves. I know many people who are in a bad situation right now. They bought a home for almost nothing down, and had bad credit. They got an interest rate that was low for the 1st five years and then went up. The 1st 5 years they were also only paying interest so once they have to start paying higher rates, they have no equity if they can't make the payments, and are way upside down on the loan, and if they sell they won't even get enough to pay the loan. WHat these people thought when they were originally purchasing was that after the 5 years they would refinance, because they would work on improving their credit over that time, and would get a fixed rate loan, well that didn't happen, their credit did not improve, and their $1200 per month payment went up to $2500 a month. Now in some cases it was the fault of the banks for giving people the wrong idea, and misleading people who had no home buying experience. But I have friends who fully understood the terms of their loan, and still went ahead with it. So why did they do this? Well a fixed rate FHA loan with their credit score would only allow them a $200,000 loan for example, but they wanted a $400,000 house. When we were looking at homes, they ran our credit and preapproved us for $350,000. We bought a home for $182,000 because we didn't NEED a huge house with giant payments. So these people went with adjustable rate mortgages that gave them the $400,000 they wanted, and they just never stopped to think what would happen. I am by no means saying that this is what everyone out there did, as I know that many people were victims of predatory lending, and my own realtor tried to convince us to buy a more expensive home because they make more on that pure and simple, They are very convincing, "you have room for your family to grow, the rates have never been lower, if you need a bigger home down the line you will have to pay much more for it" etc.

Basically, the banks did engage in unscrupulous tactis, realtors took advantage of people, and the government basically closed it's eyes to the whole thing, but in the end, it was the buyer, the consumer, who signed the contract, if they didn't understand everything, they really should have asked more questions. I feel for people who are suffering now when they only wanted to provide nice homes for their family, but you don't need to pay $400,000+ for a home, before we settled on our house, hubby and I were set to pay in full for a nice trailer, and not have to worry about a mortgage, but with housing prices dropping, we took advantage of the market. All of my family were appalled that we would consider a "trailer park". But my answer was, what's so wrong with that, it would be plenty of room for us at this stage, and the upkeep is easier, why worry about what other people think? It's a shame that it used to be perfectly fine to work your way up, but now everyone wants the mansion right away and end up with nothing.


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## Indigo Bully Connection (Dec 21, 2006)

FloorCandy said:


> Basically, the banks did engage in unscrupulous tactis, realtors took advantage of people, and the government basically closed it's eyes to the whole thing, but in the end, it was the buyer, the consumer, who signed the contract, if they didn't understand everything, they really should have asked more questions. I feel for people who are suffering now when they only wanted to provide nice homes for their family, but you don't need to pay $400,000+ for a home.


AAAAAAAAAAAAAAAAAAAAA FREAKING MEN!


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