Comments on: Modern Day Ghost Towns of Abandoned Real Estate

By: real estate shelton

real estate shelton — Thu, 24 Sep 2009 03:52:11 +0000

My clients are shocked when we first look at homes here in Vegas. Then they get used to it after the 3rd foreclosure.
We see ceiling fans and light fixtures missing, kitchen cabinets and countertops missing, sometimes the whole kitchen missing, toilets missing, and even stair rails missing!

By: doremi

doremi — Thu, 17 Sep 2009 20:11:52 +0000

I disagree – It was the government that made it legal for banks to give loans to people that didn’t/shouldn’t qualify. One word – Acorn.

By: Iman Yusef-Yahya

Iman Yusef-Yahya — Fri, 11 Sep 2009 23:35:43 +0000

In the state of PA where I live, legislation is being implemented to deal with blighted properties. The Act allows a municipality to initiate an action against an owner of “blighted property” and for the attachment of liens after judgment.

Also, the Act places the onus of dealing with blighted properties onto mortgage lenders once the property has been foreclosed upon, unless the lender properly assigns the property within the limitations of the Act. All I can say is, “Thank God!”

By: Mateu

Mateu — Sat, 29 Aug 2009 03:13:11 +0000

Unfortunately the banks were forced by Our illustrious legislators to offer marginal loans. The banks are not Completely to blame

By: Ray

Ray — Tue, 11 Aug 2009 17:38:26 +0000

I’m sure that across the country there are thousands of people like myself. We have the skills, but, we are denied the opportunity to buy some of these unfinished properties and complete them ourselves. Not for a profit but for a primary residence. They say it has to do with contractor liabilities. I’m sure that a simple contract could spell out the contractor liability liimitations quite clearly. As always it has to do with M O N E Y. The profiteers just can’t make themselves take a good look and realize it is them that got us here. They want to reap a profit from a taxpayer bail out of their poor judgement. The culture of greed lives on while the number of homeless Americans goes up. What is wrong with these people?

By: Jeff Neuman

Jeff Neuman — Sat, 08 Aug 2009 23:15:58 +0000

I hope everyone reading this is taking action to secure their own future. My friend is involved in a company called Wealth Masters International and is profiting off this down slide.

By: Mark

Mark — Sun, 26 Jul 2009 00:22:55 +0000

Real Estate in some part of the United States is hurting. New Mexico is starting to come back with Rio Rancho home sale increasing buy 33%.

By: Paul Trippett

Paul Trippett — Thu, 16 Jul 2009 21:16:07 +0000

Its worrying that its easier to get a car loan than a mortgage these days. Why cant the banks do more to get people in these houses just like the auto industry is doing to get more of the cars out of the showrooms.

By: Dr R Freedom

Dr R Freedom — Wed, 08 Jul 2009 21:47:24 +0000

Yes the mortgage lenders are making over 100% return if you go a full 30 years on your home loans. And foreclosures net them even more since all of your interest is paid up front in the first years of your mortgage.

So if they foreclose and resale the home they get to make the interest all over again, and again and again….depending on how many times they foreclose on one given house. So it does make you wonder why they were so quick to throw people out on the street, I say people but I mean your countrymen and women and children.

However, it appears to be backfiring on them and their own greed has come home to roost. Not enough buyers to keep repurchasing homes, not enough money, economy etc.

You simply can’t keep selling homes like shoes, throwing them out and selling new ones, and building more and more.
It’s absolutely ridiculous! And I’m glad people are squatting. They should have been given the homes to keep them off of the streets and keep families together. The stimulus money should have gone to pay the mortgages and save families and not the greedy individuals who got us here. Because all the greedy individuals will do is set up the whole scenario and do all again and again to keep lining their pockets!

By: Ruggy

Ruggy — Thu, 25 Jun 2009 18:15:26 +0000

This is the perfect example of de-leveraging causing an economic contraction. If our currency wasn’t fiat currency based completely on debt, none of this would be happening, since there would be no leverage to unwind or collapse.

We need to solve this problem at its source – our fractional reserve system, and the Federal Reserve corporation in particular.