Well the economists are predicting more doom and gloom in 2008 for Greensboro, Winston-Salem and areas throughout the state of North Carolina.

Hardest hit areas predicted are:

• $1.2 billion Charlotte Gastonia Concord area
• $590 million Raleigh Cary area
• $450 million Greensboro High Point

A comment in this story was made about how many of these foreclosures will be homeowners and how many would be from investors who had flipped houses for a profit. Put aside for the moment the fact that if an investor flipped the house and took their profit it would be the new homeowner losing the house (not unless the investor held the financing).

What seems to be missing is the builders. Have you taken a drive around Greensboro lately?

Everywhere there is a little patch of land builders are slapping up condos, townhomes and single family homes all the while only hoping someone will buy them.

So I ask you could not a large portion of this projected loss be due to builders who cannot handle their own loan commitments?

(continue here…)

Popularity: 55% [?]

If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!

Related posts

• It's a Real Estate Boom for First Time Home Buyers (0)
• Existing-home sales down 11% in Triad and 20% statewide (0)
• Holiday Showcase of Homes returns to the Triad. (0)
• Rep Ellison on mortgage reform (0)
• "Sallie Melendez: New resident delighted with Greensboro" (0)

According to the sources quoted in the Winston Salem Journal:

Existing home sales are down 11% in the Triad area and down 20% throughout the state of North Carolina. In addition they state that average sales prices of homes in the area have dropped 7%.

Will the buyers again begin ruling the day. Hard to say with all the “mortgage reform” action going on.

(continue here…)

Popularity: 45% [?]

Related posts

• Projected $450 million loss to foreclosures in Greensboro for 2008 (0)
• Holiday Showcase of Homes returns to the Triad. (0)
• Rep Ellison on mortgage reform (0)
• "Sallie Melendez: New resident delighted with Greensboro" (0)
• Mortgage Reform Bill passes house (3)

SUMMERFIELD — The 2007 Holiday Showcase of Komes kicks off this week.

“Its fun for us, enjoyable for us and we get to give back to the community,” said builder Tim Glen with Combs Incorporated.

Greensboro builders are decking the halls, as well as a few other rooms this week, for the second annual showcase.

“Whether youre looking to build, to buy, to remodel or simply look to decorate for the holidays, theres something for everyone,” said Cheryl Collins, of the Greensboro Builders Association.

(continue…) 

Popularity: 52% [?]

Related posts

• Projected $450 million loss to foreclosures in Greensboro for 2008 (0)
• Existing-home sales down 11% in Triad and 20% statewide (0)
• Rep Ellison on mortgage reform (0)
• "Sallie Melendez: New resident delighted with Greensboro" (0)
• About Me (0)

You can view some of the Mortgage Reform and Anti-Predatory Act of 2007 as Rep. Keith Ellison tries to show how the act would actually benefit consumers.

Popularity: 42% [?]

Related posts

• Projected $450 million loss to foreclosures in Greensboro for 2008 (0)
• Existing-home sales down 11% in Triad and 20% statewide (0)
• Holiday Showcase of Homes returns to the Triad. (0)
• "Sallie Melendez: New resident delighted with Greensboro" (0)
• Mortgage Reform bill somewhat clarified (0)

After living in the San Francisco Bay area for years hear what Sallie Melendez has to say about her move to Greenboro, NC.

“Sallie Melendez: New resident delighted with Greensboro” : News-Record.com : Greensboro, North Carolina
The quality of any community cannot be measured by how large homes are or by what types of cars people drive, not even by the degree of wealth enjoyed by certain of its residents. At the end of the day, the only yardstick by which the quality of a community can be accurately measured is by the way everyone treats one another.

If you are interested in moving to Greensboro also feel free to contact me.

Popularity: 45% [?]

Related posts

• Projected $450 million loss to foreclosures in Greensboro for 2008 (0)
• Existing-home sales down 11% in Triad and 20% statewide (0)
• Holiday Showcase of Homes returns to the Triad. (0)
• Rep Ellison on mortgage reform (0)
• Home buyers you must know this. (0)

My name is Rodney Boettger and I am a licensed Real Estate Broker in Greensboro, NC with Westchester Realty.

Since 1993 I have been involved in all forms of real estate investment, however since 1997 my main focus has been foreclosures and other distressed sales.

From April 1997 through November 2007 I have been involved with 592 bank foreclosed properties.

I enjoy working with buyers and sellers equally. There are many things I employ when helping you find a home or sell a home that others in the real estate field are not even aware of.

If you have any questions regarding real estate or are looking for assistance in the Greensboro, NC area feel free to contact me.

Popularity: 14% [?]

Related posts

• Projected $450 million loss to foreclosures in Greensboro for 2008 (0)
• Existing-home sales down 11% in Triad and 20% statewide (0)
• Holiday Showcase of Homes returns to the Triad. (0)
• Rep Ellison on mortgage reform (0)
• "Sallie Melendez: New resident delighted with Greensboro" (0)