The Running Realtor: The Gloom and Doom of Foreclosures

A blend of ramblings about Real Estate & Running around New Haven County and the Connecticut Shoreline

The Gloom and Doom of Foreclosures

Welcome to Tee'd Off Tuesday!   This may actually be the last one of the year unless Santa leaves me a lump of coal next week on Christmas morning!

I'm a man of routine and part of my morning ritual includes reading the newspaper with a few cups of coffee.  Today the front page headlines screamed more gloom and doom in the real estate world.  While reading the paper I also have the TV tuned into the morning news. One of the field reporters was live in West Haven with the camera panning a few for sale signs talking about the hard hitting foreclosure rate in the state. Click on the headline below to read the full story....

Most Real Estate Agents are well aware of market condition. Throughout the year as people ask me about the market my response has always been the same.... It is not that bad!   Volume is down but after a number of years of record breaking movement a slowdown is normal.  Prices are another subject that people always touch upon and they are also holding up fine in my territory.  There are many examples of overpriced homes that did not sell and eventually readjust the asking price.  The media usually calls these huge drops in value but since the unrealistic price was never accurate it does not reflect the true market conditions.

Today I'm Tee'd Off that the media continues to twist facts to scare the public.  If you are interested in Buying or Selling  a home in New Haven County let me know and I will happily explain the real estate market so you can decide if current conditions make it the right time for you to make a move.


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Comment balloon 15 commentsNo Longer Active • December 18 2007 08:42AM


Dan,  I agree with you.  One thing that I bring up when people talk about price is that real estate was never meant as a short-term investment; and, that if someone bought their home a few years ago, they've already seen decent appreciation of such. 
Posted by Marc Grossman, GRI, Greater Orlando Real Estate Broker (Marc It Sold!) over 12 years ago
AMEN Brotherman.
Posted by Jason Sardi, Your Agent for Life (Auto & Home & Life Insurance throughout North Carolina) over 12 years ago
Dan--Frustating if that is the only headline they could come up with...Geez! Homes are Selling would be less sensational but also true right? Maybe the editor has heard of your Tee'd off Tuesday posts and thought you needed ammunition.
Posted by Teri Eckholm, REALTOR Serving Mpls/St Paul North & East Metro (Boardman Realty) over 12 years ago
What's this I see here? A 'subscribe to' option?? Now that just pisses me off!
Posted by Jennifer Monroe, Real Estate REALTOR®/Broker in Beautiful Charlotte (Savvy + Company Real Estate) over 12 years ago
Dan - I also read the article in the newspaper and felt it was just sensational journalism. Even the headline 139 homes may be at risk in the Greater New Haven area. 139 homes vs. how many homeowners. Tens of Thousands?
Posted by Sandra Cummings, Real Estate Agent, Guilford Connecticut (William Raveis Real Estate) over 12 years ago

Marc...Most of the people that seem to ask me about pricing have been in their homes for awhile and are thinking of selling but all the bad press frightened them.

Jason... Mortgage rates still look pretty attractive from my viewpoint and there is a nice selection of inventory buyers that are not afraid to take a step into homeownership.

Teri... Gotta have the headlines....Always think of this song when I see them misleading the masses.

Jennifer...  Don't soil your panties... but.... if you prefer not to subscribe you risk missing a juicy post!

Sandra... Actually I did look at the number this morning but didn't want to bore people with facts.  So far in 2007 there have been a little over 8,000 closed sales in New Haven County that were on the MLS system but does not include private sales. Of the 139 homes at risk sited in the article most will typically correct the problem before they go into foreclosure.

Posted by No Longer Active (Real Estate) over 12 years ago

Dan...  that's awesome, that the Wilbur Cross girls basketball team won. Damn, that's great.  And what is Jennifer doing?  lol    

Seriously, I agree,the media really makes things look at lot worse. Yes, they are bad, but we weren't attacked by Russia and China with nuclear war heads.  Again, yes, it's bad out there, but it's not the end of the world. But you know that negative news sells. That's the fact Jack....

jeff belonger
Posted by Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans ( Social Media - Infinity Home Mortgage Company, Inc) over 12 years ago
Jeff...  Yes, Negative News Sells... hence Tee'd Off Tuesday!   And you know sweet Jennifer  :-)
Posted by No Longer Active (Real Estate) over 12 years ago

Dan, when they ask me that question, my answer is always "It is a great time to buy, don't wait."

And you didn't really expect anything other than coal next Tuesday did you, especially from a few of the resent people that you have endeared yourself to here on AR lately. :) 

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) over 12 years ago
Dan, I love you all Tee'd Off. They have to fill in they empty spots, give them a break. :0)
Posted by Mana Tulberg, Real Estate Agent - Camarillo CA (805 County Real Estate) over 12 years ago

George...  I have never received any coal... as for those resentful people they just misunderstand....

Mana...Your lips may say love but since you are a day late getting here I sense the passion is fading....

Posted by No Longer Active (Real Estate) over 12 years ago
Dan, I had a partty going on, you know you were there.
Posted by Mana Tulberg, Real Estate Agent - Camarillo CA (805 County Real Estate) over 12 years ago
Dan, I had a partty going on, you know you were there.
Posted by Mana Tulberg, Real Estate Agent - Camarillo CA (805 County Real Estate) over 12 years ago
REOs have stimulated our economy.  From renters sick of losing their homes to foreclosures to investors looking for opportunity.  Hopefully it does the same for you!
Posted by Renée Donohue~Home Photography, Western Michigan Real Estate Photographer (Savvy Home Pix) over 12 years ago
Hello there Dan! Just dropped by to say Merry Christmas to you and yours! Stay safe and happy and full of good eats! See you soon in the Rain!!! Deb
Posted by Deb Brooks (Brooks Prime Properties Wichita Falls Texas) over 12 years ago

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