foreclosure: Poughkeepsie Rated in the Top 10 Best Places To Buy A Foreclosure! - 02/08/13 02:16 AM
The National Association of Realtors recently wrote an article in it's magazine:
10 Best Places to Buy a Foreclosure in 2013
Based on a study done by RealtyTrac, the best places to buy foreclosures were listed based on the number of foreclosures in the area & the percentage discount. 4 out of the top 10 locations are in the State of NY. The only state with more (5) was Florida. I understand Florida topping the list, it has a high turnover rate and therefore the market is more volatile  But how is NY next on the list? I think most people … (1 comments)

foreclosure: What Do Billionaires Know That You Don't? - 01/07/13 04:15 AM
According to an article in MoneyNews.com "a handful of billionaires are quietly dumping their American stocks . . . and fast." 
Billionaires don't make that kind of money by making mistakes. So what do they know that most others don't? More importantly what does it mean?
Warren Buffet's "Berkshire Hathaway sold roughly 19 million shares of Johnson & Johnson, and reduced his overall stake in “consumer product stocks” by 21%. Berkshire Hathaway also sold its entire stake in California-based computer parts supplier Intel."
"Billionaire John Paulson, who made a fortune betting on the subprime mortgage meltdown, is clearing out of U.S. … (0 comments)

foreclosure: Are Investors Helping Restore This Market? - 09/05/12 06:57 AM
In a recent article in Bloomberg News I was quoted as stating the number of Short Sales in my market is huge but our REO inventory is low (compared to just a few years ago). Bloomberg News wanted to know if investors are competing for fewer REO properties and the decreased supply has helped level off property values to some extent.  I answered yes, at least in my market. The questions is, what does this mean for the market long term? Will things continue along this path, creating a stable bottom or are we seeing a false bottom with a double … (0 comments)

foreclosure: NY State... Worst State for Foreclosures? - 01/19/12 09:01 AM
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)

foreclosure: 4 Bedroom Colonial - Wappingers Falls, NY 12590 - 07/17/10 02:26 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)

foreclosure: The Next Market Crash? - 11/03/09 04:03 AM
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)

foreclosure: Market bottom or are we being fooled??? - 09/16/09 07:12 AM
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)

foreclosure: Are we seeing the bottom? - 02/05/09 11:53 PM
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)

foreclosure: Short Sales? Pro and Cons! - 06/06/08 09:02 AM
It seems the theme of the day has moved from "FORECLOSURES" to "SHORT SALES". So what exactly are these "SHORT SALES"? Well, simply put, its when the value of the home is lower than the amount owed to the mortgage company. You sell the house for less than is owed and the bank accepts that payment and removes the mortgage (the security that attaches to the properties title). So what are some of the pro's to selling your home as a short sale:
1. If you have fallen behind on your mortgage, you can sell your home and keep from having to … (1 comments)