Comments on: Real Estate Poll Question – Foreclosures vs Traditional Listings

By: RE_Guru

Fri, 22 May 2009 22:44:49 +0000

No…those who say too many variables are marketing mavens, not dealing with their own money.
When the foreclosures have exceeded traditional sales it indicates your notional homeowner has thrown up their hands and determined, locally, that their loss, long-term mind you, is worth the foreclosure. RealtyScoreCard. amongst others, is a joke if they expect otherwise…The RE market is centric to owners/buyers perceptions, the variables and metrics are clear in THIS scenario.

By: @derekmassey

Wed, 04 Feb 2009 12:31:38 +0000

The two additional factors you need to take into account are (1) Is the region filled with second homes? and (2) What is the underlying reason behind the foreclosures/dropping house prices? Florida may be a great place to buy now if you are buying investment property/second home. We know why Floriday is struggling. Too much, too fast. Compare that to an area that has similar foreclosure rates but has more primary residences and is supported by a local industry which fails. Even with identical FC rates, I would look at Florida as the opp, but the latter community as the “wait and see”.

By: Sherry Chris

Wed, 04 Feb 2009 10:38:17 +0000

Sales data required to really know the answer.

By: Dawn

Wed, 04 Feb 2009 00:40:23 +0000

“B” – It is a buyer opportunity… & “C” It is rediculous to think it is a reflection of the market… too many variables for the reason of foreclosure to make an assumption of the market.

By: Property Qwest

Tue, 03 Feb 2009 23:05:29 +0000

It definitely can mean “Buyer beware”. If you are rehabbing properties the next potential foreclosure sale (soon to be comp) may be 10% under what you just bought your home for depending upon the negotiated terms. Hence, bye, bye, profits.

On the flip side of the coin, if you are a first time home buyer, you found a house you love, negotiated good terms, and took advantage of these cheap mortgage rates, I’d say that looking back in five years (in consideration of many current local market conditions) you will be more than happy that you hopped off the fence and made a move.

The potential scenarios and market variables (as others have stated) are countless which would make it impossible to chose any option other than “C”.

By: Ira Serkes

Tue, 03 Feb 2009 23:03:09 +0000

Insufficient Data. I can make good arguments for A, B, C or none of the above or all of the above.

B.S.Ch.E 1970 Cooper Union
M.S.Ch.E 1974 UMass Amherst

Ira Serkes

By: Danilo Bogdanovic

Tue, 03 Feb 2009 22:49:42 +0000

If you were to ask consumers, you’d most likely get “A” as the answer.

If you were to ask me, I may be cautious of what “A” describes, but I would need more information (”C”)to make a final conclusion.

By: John Lauber

Tue, 03 Feb 2009 21:59:34 +0000

I too would have to go with C. Too many factors and depends who’s buying. Now where did I put my crystal ball?

By: Pat Tibs

Tue, 03 Feb 2009 21:57:52 +0000

Too many variables involved. What else is happening in the neighborhood?

By: Carla

Tue, 03 Feb 2009 21:47:40 +0000

I agree with Steve. I have to go with C because A and B are too general of a statement. Too many other factors come into play. Also depends on why you want to purchase…whether for a home or investment.