Charlottesville Foreclosures On The Rise

Full story: NBC29 Charlottesville

The number of families being forced out of their homes in the Charlottesville has gone up considerably.

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Joan

Keswick, VA

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#1
Jun 1, 2010
 
Foreclosures on the rise, and yet the prices still appear to climb for those trying to enter the market. The banks may find those foreclosed properties not so easy to sell.
Captain Obvious

Waynesboro, VA

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#2
Jun 1, 2010
 

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But... Obama promised!!
George S

Waynesboro, VA

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#3
Jun 1, 2010
 

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The banks have been foreclosing on eveything they can (across the nation) for two years. They are not trying to sell anything. They have been holding on to the properties in hopes of profiting in the future when the economy improves (if it ever does). The banks didn't need the money before Obama gave them a free gift of $800 billion of our Federal tax dollars and they don't need the money now.

Why should the local and state governments care about families when they have money to burn building bicycle paths, footbridges, abandoned hotels and convention centers no one needed to begin with, and forming amongst their own ranks more and more committees to spend more tax dollars on theories of how they can steal more money from us all.

This "economic stimulous" at the point of a figurative bayonet is not the sort of "Change" people want.

We - the peasants - should matter to some small degree when the government leeches make decisions.
lord

United States

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#4
Jun 1, 2010
 

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Joan wrote:
Foreclosures on the rise, and yet the prices still appear to climb for those trying to enter the market. The banks may find those foreclosed properties not so easy to sell.
Actually, the banks are keeping foreclosed properties off the market because if they put all the properties now owned by banks and mostly sitting empty on the market the banks would have to recognize losses on their balance sheets which could push the banks themselves into insolvency. A large number of these properties are "upside down" and the banks would have to recognize losses if they were sold, were as they can keep possession of the homes and list them on the books as assets at whatever price their appraisers give to the property. The result is homes being kept empty and being targeted for vandalism, squatters, thieves, etc., causing neighborhood blight and further depressing home values, and of course homeowners and banks are waiting for a return to the overheated prices of two years ago which only existed because of greedy and short sighted speculation by banks, home buyers, and speculators. I hope this has been helpful.
Sadden by this

Blacksburg, VA

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#5
Jun 1, 2010
 
You boasted the numbers and impacts but not where people can go for assistance. Piedmont Housing is the HUD approved agency handling default foreclosure prevention counseling. Report the news but tell people where to get help.
Link Love

United States

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#6
Jun 1, 2010
 
You forgot to include the link to the Cville Bubble Blog, where you first read these details. You need to include it so that when every other local media source runs the story they accurately report, too.

http://realcville.blogspot.com/2010/06/forecl...

Now, how about doing a story on the soaring rate of bankruptcies?
thinking free

Martinsville, VA

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#7
Jun 1, 2010
 

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Can you imagine a man with a gun coming to your home and ordering you and your children to leave. And this guy wears a badge? Has to be a nightmare for some people. Thank The Incorporated States of America.
jim

Charlottesville, VA

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#8
Jun 1, 2010
 

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I have been trying to sell a second home for well over a year now and although it is just over 200k no one that has been interested so far has been able to get a loan. Fortunately I am able to ride it out unlike so many other people who are losing everythong they have worked hard for.
Obama's plans have done nothing for the average people who are still struggling to make ends meet. He is just like every other President, big talk, no action and now with the the oil spill my quess is that the consumer will pay for the clean up at the pump in the long run again making things tighter for average America.
Joe

Blacksburg, VA

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#9
Jun 1, 2010
 
jim wrote:
the consumer will pay for the clean up at the pump in the long run again making things tighter for average America.
It makes business sense, if it costs millions or billions of dollars to clean it up, you have to recoup the losses somewhere. However, we have a free market, and if they raise the price at the pump too much, we will just
shop elsewhere.(except for the poor slobs with BP credit cards, they are on the hook)
Bearer of bad news

Los Angeles, CA

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#10
Jun 1, 2010
 

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I hate to be the bearer of bad news, but Virginia and the south in general is behind the rest of America. In many senses, such as open-mindedness, forward thinking, and overall evolutionary levels. The real estate market in the rest of the Country has already crashed and ridden out five years of market correction; things are even beginning to stabilize in many areas (especially in the west, except for NV, which is still declining). What this means to you simple folk is that you're in for a long, sad ride. Get ready for your values to plummet 40% to 50% because there are much better deals elsewhere.
lord

United States

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#11
Jun 1, 2010
 

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Bearer of bad news wrote:
I hate to be the bearer of bad news, but Virginia and the south in general is behind the rest of America. In many senses, such as open-mindedness, forward thinking, and overall evolutionary levels.
Que?
BOB

Rocky Mount, VA

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#12
Jun 1, 2010
 

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Captain Obvious wrote:
But... Obama promised!!
yes and he said it could not be done over night.It will take years and years so don't expect a quick fix!
Nancy

Rocky Mount, VA

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#13
Jun 1, 2010
 
Bearer of bad news wrote:
I hate to be the bearer of bad news, but Virginia and the south in general is behind the rest of America. In many senses, such as open-mindedness, forward thinking, and overall evolutionary levels. The real estate market in the rest of the Country has already crashed and ridden out five years of market correction; things are even beginning to stabilize in many areas (especially in the west, except for NV, which is still declining). What this means to you simple folk is that you're in for a long, sad ride. Get ready for your values to plummet 40% to 50% because there are much better deals elsewhere.
HA HA A redneck calling somebody (simple folks) LOL.
true

Farmville, VA

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#14
Jun 2, 2010
 

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Captain Obvious wrote:
But... Obama promised!!
he didnt mean to promise, he miss read the telepromtor the screen was too small. the real promise was to loot and rob you of your money and share it with his banker masters
Fred

Watertown, CT

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#15
Jun 2, 2010
 

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My grandparents home was on the market for a year, we received 2 contracts during that year in which the bank turned down. It went into foreclosure and they sold the home for less than the 2 contracts - I really don't understand.
DICK

United States

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#16
Jun 2, 2010
 
Fred wrote:
My grandparents home was on the market for a year, we received 2 contracts during that year in which the bank turned down. It went into foreclosure and they sold the home for less than the 2 contracts - I really don't understand.
It's simple really, kind of like gambling. First you need to have a concrete understanding of what price the market will bear (easier said than done in this environment). If you don't think certain offers are close enough to the highest price the market will bear, you turn them down and hope for better offers. Sounds like the bank took a gamble and lost...happens all the time.
RNR

Charlottesville, VA

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#17
Jun 2, 2010
 

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I urge anybody who wants to try and keep their house out of foreclosure to seek the ADVICE of a bankruptcy attorney. There are many options but only a bankruptcy attorney can give you accurate advice, not your neighbor, not your sister, not your co-worker. Don't wait until 2 days b4 the sale, if you're behind call an attorney. Its so sad to know of all the people who have lost their homes and those who are facing the loss because they just didn't know what to do. Make a call!

“Politically Incorrect since 71”

Since: Mar 10

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#18
Jun 2, 2010
 

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true wrote:
<quoted text>
he didnt mean to promise, he miss read the telepromtor the screen was too small. the real promise was to loot and rob you of your money and share it with his banker masters
... While employing tax cheats and avowed communists and forcing the healthcare HE thinks is best on us
Charlottesville Homes

Charlottesville, VA

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#19
Jun 2, 2010
 
I just did a search and there are 72 Charlottesville foreclosures and short sales on the Charlottesville mls.

Click here to see them all, if you want...
http://caarmls.com/CAARReports/ListitLib/show...

Mind you some people are tryng to sell their homes themselves...

Best

http://www.CharlottesvilleHome.org
Joan wrote:
Foreclosures on the rise, and yet the prices still appear to climb for those trying to enter the market. The banks may find those foreclosed properties not so easy to sell.
wellhippies

Aroda, VA

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#20
Jun 2, 2010
 

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2012 cannot get here fast enough. I bet there will be an urgent need for head shrinks to console all you bleeding heart hippies and wanna be Che's.

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