Take A Peak Up Countrywide's Skirt...Yikes! Are Foreclosures Slowing Down?

By
Real Estate Broker/Owner with Real World Properties, Inc.| Your Real Estate Consultant for Life

Yes, it's true--The State of Florida has a lawsuit against the Nation's largest lender--Countrywide Mortgage, while Bank of America finishes it's acquisition of the troubled company.  Our State's Attorney General says Countrywide HAD to know they were giving loans out like handing lollipops to diabetic babies.  Big news, right?

Here's the kind of news I like to see--Foreclosure numbers are DOWN, at least in the counties I'm lookin' at, and those are the ones I care about the most!  Take a look:

First Quarter (Jan-March 2008) Pasco County Foreclosure SALES:

  • <100K            66             sold in average 80 days on market
  • 100-200K       54             sold in average 80 days on market
  • 200+             18              sold in average 69 days on market
  • TOTAL             138

Second Quarter (April-June 2008) Pasco County Foreclosure SALES:

  •  
    •  
      • <100K           102             sold in average 56 days on market
      • 100-200K        61             sold in average 77 days on market
      • 200+              29              sold in average 64 days on market
      • TOTAL              192

Here's the Good news--based on these numbers, and the average days it has taken these homes to sell, we should have an inventory higher than the last 3 months' sales (192), but:

  •  
    • <100K           75 ACTIVE     
    • 100-200K      59 ACTIVE     
    • 200+            28 ACTIVE     
    • TOTAL            162  ACTIVE      

 Looks like a good time to jump on the FORECLOSURE BUS!

Easy Fill-in FORM ONLINE:

 www.ForeclosureBusTampa.com

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BANK OWNED HOMES

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For Preview Homes see:  Tampa-Bay-Foreclosure-Bus

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Rainmaker
2,857,763
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Loretta, What wonderful news....maybe a turnaround will come faster in some areas and you just might be leading the way!  ( I can hope, can't I?)

Jul 02, 2008 12:09 PM #1
Rainer
27,869
Ken Land
Fairway Independent Mortgage - Weddington, NC
NMLS#108157

 

they were giving loans out like handing lollipops to diabetic babies.??? That's one way to put it!  :-) 

 

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Jul 02, 2008 12:11 PM #2
Rainmaker
78,333
Loretta Buckner
Real World Properties, Inc.| Your Real Estate Consultant for Life - Palm Harbor, FL
Your GREEN Real Estate Consultant For Life!

We can all hope, Carole!  Tampa Bay is in the top 15 markets in Florida for foreclosures, but it sure looks to me like we may be poised for a turnaround!

Didja like that, Ken?  I was trying to think of an effective comparison...:^)

Jul 02, 2008 12:34 PM #3
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Rainmaker
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Loretta Buckner

Your GREEN Real Estate Consultant For Life!
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