Home-sales slide means no rebound in '10 | The Columbus Dispatch

Dec 23, 2010 Read more: Columbus Dispatch 20
Any lingering hopes for a central Ohio real-estate recovery this year were dashed by figures released yesterday, showing a continued drop in sales. Read more
mariagoodwin

Karaikudi, India

#1 Dec 23, 2010
Refinancing replaces your current mortgage with a new loan that has a more favorable interest rate and terms that you can afford to manage. The new loan is secured on the same property as your current loan. I refinanced and saving $451 every month! search online for "123 Mortgage Refinance" they got me a 3.11% rate
Realitycheck

Columbus, OH

#2 Dec 23, 2010
You can thank very very bad policy decision by obama and the us congress for this result. Their intervention in forclosures, trying to keep people in homes they cannot afford has spent billions of taxpayers dollars and only served to delay the inevitable. If they would have just let the market work prices would be where they should be and sales would be on the rise.
lunacentric

Plain City, OH

#3 Dec 23, 2010
Realitycheck wrote:
You can thank very very bad policy decision by obama and the us congress for this result. Their intervention in forclosures, trying to keep people in homes they cannot afford has spent billions of taxpayers dollars and only served to delay the inevitable. If they would have just let the market work prices would be where they should be and sales would be on the rise.
Funny how that would not have hapened, the banks would be owning more homes now. The banks are still trying to put people out. Why not put prices where they should be in the form of lower rate from bank,like it should have been.
lunacentric

Plain City, OH

#4 Dec 23, 2010
mariagoodwin wrote:
Refinancing replaces your current mortgage with a new loan that has a more favorable interest rate and terms that you can afford to manage. The new loan is secured on the same property as your current loan. I refinanced and saving $451 every month! search online for "123 Mortgage Refinance" they got me a 3.11% rate
People do not understand,the banks were in on these dirty little deals.Some banks are trying to come out smelling like a rose.
Realitycheck

Columbus, OH

#5 Dec 23, 2010
Banks don't want to own homes.
Artificially low interest rates actually contributed to the bubble.
Banker clearly were negligent in doing their jobs, making sure people could afford what they were borrowning.
Many home buyers were clearly dishonest on their mortgage applications.
Liberals/democrats need to get a reality check, not everyone needs to own a home, can afford to own a home..........
Sid

Galloway, OH

#6 Dec 23, 2010
Go buy a tent and camping supplies and live in the parks. The illegals do. Mad Max is closer than you think.
lunacentric

Plain City, OH

#7 Dec 23, 2010
Realitycheck wrote:
Banks don't want to own homes.
Artificially low interest rates actually contributed to the bubble.
Banker clearly were negligent in doing their jobs, making sure people could afford what they were borrowning.
Many home buyers were clearly dishonest on their mortgage applications.
Liberals/democrats need to get a reality check, not everyone needs to own a home, can afford to own a home..........
Everyone should be able to own a reasonably priced home.Yes people do lie,but that many, and the banks do not check out the applications, are the people running the banks,morons? Home ownership it what helps make a communnity,and a great one. Everyone seems to look down on renters,why? If renters are doing what they should,because they CANNOT afford a home,why give them grief,it is because people alway need someone to look down on.
lunacentric

Plain City, OH

#8 Dec 23, 2010
Realitycheck wrote:
You can thank very very bad policy decision by obama and the us congress for this result. Their intervention in forclosures, trying to keep people in homes they cannot afford has spent billions of taxpayers dollars and only served to delay the inevitable. If they would have just let the market work prices would be where they should be and sales would be on the rise.
THIS was going on WAY before Obama.
DirtMeanNotWelco me

Atlanta, GA

#9 Dec 23, 2010
Realitycheck wrote:
Banks don't want to own homes.
Artificially low interest rates actually contributed to the bubble.
Banker clearly were negligent in doing their jobs, making sure people could afford what they were borrowning.
Many home buyers were clearly dishonest on their mortgage applications.
Liberals/democrats need to get a reality check, not everyone needs to own a home, can afford to own a home..........
Is that some kind of a sick joke? H Ell yes they want to own your home. If someone has an insured FHA mortgage, the bank collects TWICE. Once on the mortgage insurance, PLUS they get the home. And man, you need to get spell check before you pretend to be knowledgeable about banksters and mortgages.
Joe Biden

Mount Vernon, OH

#10 Dec 23, 2010
The stimulus is working......
But Seriously

Findlay, OH

#11 Dec 23, 2010
Realitycheck wrote:
Banks don't want to own homes.
Artificially low interest rates actually contributed to the bubble.
Banker clearly were negligent in doing their jobs, making sure people could afford what they were borrowning.
Many home buyers were clearly dishonest on their mortgage applications.
Liberals/democrats need to get a reality check, not everyone needs to own a home, can afford to own a home..........
Now the landlords are buying up low cost foreclosures and renting them to people for MORE than a mortgage payment. I am really tired of knee-jerk republicans blaming everything on politics, worshipping big business, bankers, moneymakers, and solid gold, and saying that people who have been trashed by this recession "should never have been allowed" to buy a home.
Realitycheck

Columbus, OH

#12 Dec 23, 2010
But Seriously wrote:
<quoted text>
Now the landlords are buying up low cost foreclosures and renting them to people for MORE than a mortgage payment. I am really tired of knee-jerk republicans blaming everything on politics, worshipping big business, bankers, moneymakers, and solid gold, and saying that people who have been trashed by this recession "should never have been allowed" to buy a home.
In 2006, the FBI studied three million mortgage loans and found that 30 to 70 percent of early payment defaults can be linked to misrepresentations in mortgage loan applications.

Lying democrats.
lunacentric

Plain City, OH

#13 Dec 23, 2010
Realitycheck wrote:
<quoted text>
In 2006, the FBI studied three million mortgage loans and found that 30 to 70 percent of early payment defaults can be linked to misrepresentations in mortgage loan applications.
Lying democrats.
Dumb, loan officers,think any of them helped them lie, or they were just plain stupid.Loan officers to lazy to do there job,regardless of conquences. Just how I like to see a bank run. If the banks can not get loans right,what else are they screwing up?
lunacentric

Plain City, OH

#14 Dec 23, 2010
Realitycheck wrote:
<quoted text>
In 2006, the FBI studied three million mortgage loans and found that 30 to 70 percent of early payment defaults can be linked to misrepresentations in mortgage loan applications.
Lying democrats.
Bet all those loan officers were republicians,looking for quick cash,now does that sound as dumb as your lying democrats statement?
lunacentric

Plain City, OH

#15 Dec 23, 2010
Realitycheck wrote:
<quoted text>
In 2006, the FBI studied three million mortgage loans and found that 30 to 70 percent of early payment defaults can be linked to misrepresentations in mortgage loan applications.
Lying democrats.
30 to 70 IS A BIG GAP,sounds like they need a math class or two. So do bank employees.
Details

Columbus, OH

#16 Dec 23, 2010
Not everyone should be entitled to own a home. Home ownership should return to how it used to be--something you saved for, took seriously, and bought within your means. Americans became greedy and irresponsible, always wanting a bigger, nicer house that they couldn't afford. Bankers, also greedy, saw that and started finagling crazy things like a *loan* for a down payment. If you can't afford the down payment, you can't afford the house! End of story. ARMs and balloon payments lured even more aboard, causing the housing boom. Then the economy tanked, ARMs skyrocketed, and people realized their houses weren't nearly worth what they bought them for. The left screams about big, bad banks and the right screams about irresponsible owners. It's both. Like so many other things, home ownership is a privilege, not a right.

Oh and by the way - it's still going on. Certain builders (Dominion, Maronda, etc) are still putting people in homes they can't afford. We need to return to more stringent down payment requirements and fixed rate loans.

Since: Jun 10

Canal Winchester, OH

#17 Dec 23, 2010
Let us not forget that it is the Real Estate, Legal, Mortgage and Wall Street Financial people that got us into this "Real Mess". Madison avenue's advertising people just pumped it up for them with glitzy and incomplete information.
The regulators? Barney Frank, Chris Dodd. the bush administration? They shoulda/coulda/didn't crack down while they had a chance. It was more politically acceptable to have a firey hot economy than a sound one.
I feel sorry for the homeowner who has been led down the ugly path to ruin by the legions of crooked Real Estate, Mortgage Legal and Wall Street Financial people that cared more about taking money from people who trusted them. If they in turn are suffering today, who should care? They need to help those they hurt before being helped by others.
lunacentric

Plain City, OH

#18 Dec 23, 2010
Details wrote:
Not everyone should be entitled to own a home. Home ownership should return to how it used to be--something you saved for, took seriously, and bought within your means. Americans became greedy and irresponsible, always wanting a bigger, nicer house that they couldn't afford. Bankers, also greedy, saw that and started finagling crazy things like a *loan* for a down payment. If you can't afford the down payment, you can't afford the house! End of story. ARMs and balloon payments lured even more aboard, causing the housing boom. Then the economy tanked, ARMs skyrocketed, and people realized their houses weren't nearly worth what they bought them for. The left screams about big, bad banks and the right screams about irresponsible owners. It's both. Like so many other things, home ownership is a privilege, not a right.
Oh and by the way - it's still going on. Certain builders (Dominion, Maronda, etc) are still putting people in homes they can't afford. We need to return to more stringent down payment requirements and fixed rate loans.
Everyone could have a home,done right.You make very good points.But exactly how do homebuilders keep building,first someone should be able to put the down payment on the home before it is built. A home built that they can afford. Maybe more builders should be making existing homes,more affordable,by weatherization,up to code wiring. A homebuyer could pay a builder for a decent upgraded home. There are plenty homes out there need rehabed.
arlington tx real estate

Arlington, TX

#19 Dec 23, 2010
As a licensed agent in Arlington Tx and having grown up around the business all my life I can say its a strange market. There is a lack of urgency from buyers due to homes lagging on the market and interest rates remaining low. I think there may be a surge though as interest rates rise which could put the supply and demand of homes more in line with the market.
Buyers need to pay attention to getting prequalified for a couple reasons. First you can possibly remove any small things off your credit if you do it early on resulting in a lower interest rate. The second thing is you may save yourself as well on being able to lock on a loan quickly if you find the home you are looking to find. There are numerous great homes on the market in Arlington Texas. These homes range from high end foreclosures to great buys on lower priced investment or rental homes. You can read more about the Arlington Texas area and get professional representation from www.arlingtontexashomesforsale.wordpress.com

Since: Feb 11

Boca Raton, FL

#20 Mar 3, 2011
For those looking for deals in the foreclosure/short sale market, I would highly recommend talking to a professional about a mold test before purchasing.
http://www.airmd.com/mold-testing-miami/

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