Even foreclosures are a tough sell

Even foreclosures are a tough sell

There are 164 comments on the South Florida Sun-Sentinel story from Mar 31, 2007, titled Even foreclosures are a tough sell. In it, South Florida Sun-Sentinel reports that:

If home ownership is the American dream, the scene that plays out every week in Room 385 of the Broward County Courthouse is the American nightmare.

Join the discussion below, or Read more at South Florida Sun-Sentinel.

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Tsk Tsk

Delray Beach, FL

#1 Mar 31, 2007
The speculators who artificially drove up prices are to blame. It's hard to feel sorry for them. The real victims are owner/residents of units who now have to cover all the maintenance fees for half-empty buildings. All of us long-time property owners also suffer because the greedy developers flooded the market (and BTW encouraged the "flippers") & lowered the quality of life for everyone.
bruce

Naples, FL

#2 Apr 1, 2007
who really cares, I hope the mortgage companies and banks all burn.

However, it all comes back to the LAZY Floridians that saw easy money without having to work. The people of this state are ID!OTS !!!!!!!!!!
knuckle

Naples, FL

#3 Apr 1, 2007
Tsk Tsk wrote:
The speculators who artificially drove up prices are to blame. It's hard to feel sorry for them. The real victims are owner/residents of units who now have to cover all the maintenance fees for half-empty buildings. All of us long-time property owners also suffer because the greedy developers flooded the market (and BTW encouraged the "flippers") & lowered the quality of life for everyone.
What are you babbling about? You should have sold your RE and made huge profits. Then you could be buying now at a fraction of the price.

Quit crying.

Since: Apr 06

Hallandale Beach

#4 Apr 1, 2007
Yeah, it's called greed.... they wanted more and more and eventually - couln't get out.
knuckle wrote:
<quoted text>
What are you babbling about? You should have sold your RE and made huge profits. Then you could be buying now at a fraction of the price.
Quit crying.

Since: Dec 06

AOL

#5 Apr 1, 2007
I was driving around North Lauderdale / Pompano yesterday.(the area is just ok but not real ghetto) There is an area that has mostly duplexes and small singles. There are tons for sale. Many are vacant with FSBO sign and are being renivated. The prices are absurd (but coming down).

It looks like there are as many flippers as other owners trying to sell.

I spoke with one flipper. He said there have been lots of forclosures in the area. He is buying as many as he can. His partner is a mortgage guy / his phone # is on the signs).Is he nuts, or does he know something that I do not?
Deerfield Beach

AOL

#6 Apr 1, 2007
Tsk Tsk wrote:
The speculators who artificially drove up prices are to blame. It's hard to feel sorry for them. The real victims are owner/residents of units who now have to cover all the maintenance fees for half-empty buildings. All of us long-time property owners also suffer because the greedy developers flooded the market (and BTW encouraged the "flippers") & lowered the quality of life for everyone.
And just who issued the developers the permits?
Fort Lauderdale

New Orleans, LA

#8 Apr 1, 2007
Oh , and DEERFIELD...WHO ISSUED THE PERMITS ???

You have ZERO understanding. The law requires a municipality to issue a permit when ZONING permits the USE and the DENSITY. Building department drones issue permits you mis-informed windbag.

Your complaint is probably with the zoning process which determines land use.

but I guess the conspiracy theory is much more fun to kibbitz about when playing marjon.
Fort Lauderdale

New Orleans, LA

#9 Apr 1, 2007
Tsk Tsk...
What on earth do you mean that "The real victims are owner/residents of units who now have to cover all the maintenance fees for half-empty buildings".???.
All units are owned by someone...If fees go unpaid the condo association liens and collects upon ultimate sale of the unit.

Ultimately, its the lender that gets screwed. Oh but in your world the big bad bank or the big bad developer can't ever get screwed because they are the screwor not the screwee.
Fort Lauderdale

New Orleans, LA

#10 Apr 1, 2007
Bruce...right on man...I agree Mortgange and Banks can burn. Its survival of the fittest.

And you're right about the idiots !
Ugh

Austin, TX

#12 Apr 1, 2007
Jade wrote:
I spoke with one flipper. He said there have been lots of forclosures in the area. He is buying as many as he can. His partner is a mortgage guy / his phone # is on the signs).Is he nuts, or does he know something that I do not?
He is nuts. If no one is buying a product, owning 100 of that product does him and no one else any good.
Captain Obvious

Fort Lauderdale, FL

#13 Apr 1, 2007
And many people thought prices were never gonna come down.
Deerfield Beach

AOL

#14 Apr 1, 2007
Fort Lauderdale wrote:
Oh , and DEERFIELD...WHO ISSUED THE PERMITS ???
You have ZERO understanding. The law requires a municipality to issue a permit when ZONING permits the USE and the DENSITY. Building department drones issue permits you mis-informed windbag.
Your complaint is probably with the zoning process which determines land use.
but I guess the conspiracy theory is much more fun to kibbitz about when playing marjon.
I dont play mar jong. Second the city should have learned the word NO in kindergarten.
Overpriced

Pompano Beach, FL

#15 Apr 1, 2007
Not surprised... most people that bought homes with ARMs are simply irresponsible. I don't for a second feel for someone that irresponsibly gambled on their mortgage, used their homes as an ATM to buy luxury cars, jewelry, etc...

Thank God I had some sense when I took out my fixed mortgage three years ago!!!
Papa Doc

Pompano Beach, FL

#16 Apr 1, 2007
Game over
Billy Clyde Gillespie

Enid, OK

#17 Apr 1, 2007
Texas, Our Texas!
All hail the mighty State!
Texas, Our Texas!
So wonderful and great!
Boldest and grandest,
Withstanding ev'ry test,
O, Empire wide and glorious,
You stand supremely blest,
God bless you Texas,
And keep you brave and strong,
That you may grow in power and worth,
throughout the ages long.
God bless you Texas,
And keep you brave and strong,
That you may grow in power and worth,
throughout the ages long.
Sand Buzzard

Fort Lauderdale, FL

#18 Apr 1, 2007
Wonder what ever happened to that idiot sh!t-faced caveman who bought "Ugly Houses?" I don't see him buyin' any more.
glitch in the matrix

United States

#19 Apr 2, 2007
It's going to a close. The next couple of years will be intresting for everyone. Will this be a recession or the big D. Greed brought down alot of superpowers in the past, this country is not excluded. History works in cycles and this cycle is about due
packingmybags

Lincoln, NE

#20 Apr 2, 2007
From 1990 to 2005 Japan's real estate dropped 70%....
Jim Eirikis

AOL

#21 Apr 2, 2007
I have been buying foreclosed properties for 13 years, and Brevard County for 7 years. Do not waste your time, the foreclosure auction offers no values.
Depressing

Boca Raton, FL

#22 Apr 2, 2007
The real nightmare begins after we get hit by a storm and all the people with Citizens look for a check in the mail. The Washington Post has some interesting information that the average homeowner in Florida is not yet aware

http://www.washingtonpost.com/wp-dyn/content/...

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