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reo: Will REO Inventory Finally Pick Up? - 02/07/12 01:17 PM
I read the article below, this may explain the excessive drop in REO listings in NY. Perhaps once these settlements are comlete things can finally get back to normal. We need to clear out the backlog of REO properties before this market will stabilize.
From HousingWire:
More than 40 states to sign foreclosure settlement
More than 40 states will sign a settlement with the top-five mortgage servicers over alleged foreclosure abuses that arose more than one year ago, Iowa Attorney General Tom Miller said in a statement Monday night.
Last week, Miller extended the deadline to Monday for states wanting to … (1 comments)
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reo: NY State... Worst State for Foreclosures? - 01/19/12 05:01 PM
I've been reading some very misleading articles lately about the current condition of the Real Estate market in NY. Many articles are misleading readers. I'd like to acknowledge Brandon Moore, CEO of REaltyTrac for his clear understanding of the statistics and giving an honest and clear picture of our current market conditions. Although the number of foreclosure filings was down in 2011 compared to 2010, those figures are misleading. The truth is the average foreclosure in the fourth quarter of 2011 took over 33 months, that's almost 3 years. And that's the problem, because the process has been extended and in some instances, stalled completely, we've seen a short term decrease, … (0 comments)
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reo: 4 Bedroom Colonial - Wappingers Falls, NY 12590 - 07/17/10 09:26 AM
Foreclosure!
• 3,040 sq. ft., 3 bath, 4 bdrm colonial - MLS® $429,900
Wappingers Falls, Dutchess County - **Foreclosure**Attention buyers, this sizeable Colonial is in need of your love. With a little TLC you can make this your dream home. It offers a fireplace, deck, finished walk-out basement with a wet bar and full bathroom. Perfect for entertaining. Sold as-is.
visit www.CurtDarragh.com for more information.
… (0 comments)
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reo: To Advertise Listings On Active Rain or Not? - 07/08/10 11:05 AM
I logged in this morning and clicked on blogs, wanting to see what's new with my friends in the world of Real Estate. What I found was 3/4's of the posts were listings. I'm not all that active with blogging, if I have something I want to share (or get off my chest on occasion) I'll post here on AR. I have a seperate blog on my website which I also post real estate related posts as well as my new listings. But I'm no blog addict, I typically don't post more than once or twice a month (not including listings)
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reo: The Next Market Crash? - 11/03/09 12:03 PM
Sorry that title is incorrect.... it should read "CRASHES!"
I've been saying this since the White House requested this back in January. I've seen articles in the Investors Bussiness Daily & the Wall Street Journal mention it, but no one else seems to be discussing it. WHY.....
THE FORECLOSURE MORITORIUM
The Foreclosure Moritorium didn't end until March 2009. That means all foreclosures stopped dead in their tracks and no new foreclosures began. In my state (NY) it takes approximately 13 months to complete the process. That puts us into early/mid 2010 before all the back log hits the market. How can I put … (2 comments)
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reo: Market bottom or are we being fooled??? - 09/16/09 02:12 PM
Wow, my head is spinning. Depending on which media source you read or watch, either the sky is falling or as the politicians put it "we've pulled back from the brink". Well I'm no economist and I don't play one on TV so I won't speculate about any "brink". But I do know real estate, real estate markets and how to determine the bottom. And we're not there yet!!!!!
Do the statistics (for Dutchess County NY) show the market decline slowing down.... well sort of. The decline in average sales prices has dropped, we were seeing over 24% year over year decline and … (2 comments)
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reo: Are we seeing the bottom? - 02/06/09 07:53 AM
After months of doule digit decreases in average sales prices, increases in inventory and days on the market we finally see some stabilization. Below are our current statistics
As you can see, closed sales is only down 2.3% which is a significant difference compared to the 26% last month. Now this may be a blip in the statistics, we'll need to see next months figures to know for sure but its a nice start!
… (4 comments)
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Curt Darragh
Poughkeepsie,
NY
More about me…
Legacy Land & Homes, LLC
Address: 23 Orchard Park, Poughkeepsie, NY, 12603
Office Phone: (845) 206-9462
Cell Phone: (845) 518-7526
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