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topsecret09 (44.83)

August 2010

Recs

22

The housing market Is headed for another collapse

August 23, 2010 – Comments (19)

  Being from California and being Involved In some recent real estate transactions that were In a word "scary".....   and keeping In mind that as California goes,so goes the rest of the nation, I have come to the conclusion that we will see another BIG downturn In real estate,and Indeed It Is beginning to happen as we speak. Appraisers are (low balling) at the request of the banks,especially If the loan Is FHA. I had a house with a willing buyer at $104,000, then the appraisal came In at $85,000.  I had a second willing buyer at $106,000 and that appraisal came back at $87,000. Both buyers were approved up to $110,000.  On top of that,you have to have a credit score of  750 or higher just to qualify....   The free market Is not working,and It will get much worse with the banks digging In their heels. If you do not have cash,forget It...    TS       15 Signs The U.S. Housing Market Is Headed For Complete And Total Collapse             
       

The U.S. housing market is dying.  You will only hear hints of this on the mainstream news and from the politicians in Washington D.C., but as statistic after statistic continues to roll in, the reality of what is happening is becoming very difficult to deny.  [more]

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