prices fall, sales rise: is it a rebound?

The NAR initially proclaimed some time in 2006 as "the bottom", here we are and its almost 2009.

BullsBearsPigs wrote:

Anyone who buys now is "catching a falling knife". Home prices will continue to deteriorate until prices are no more than 3 times earnings. Those who do not learn from history are doomed to repeat it. The idiots buying foreclosures in this nightmare "post bubble" market are referred to as "bottom feeders". They think that by buying a foreclosure at what they will convince themselves is a low ball price, will turn into a "flip" opportunity. Wake up people! No one wants to buy your ugly foreclosure you just bought for $120K for $175! Once the bottom feeders are wiped out, we will be at a bottom. Take my word.

Amen, so true. This is a correction and as long as the speculators are in it, and there is an excess of inventory - there will be a while before the bottom hits. What really drove the bubble were the flippers. I saw lots of apts to condos conversions - kick out the paying tenants, slap some paint on them and sell an old fire trap for $250,000.00, Trouble is they are all empty now.

The National Association of Realtors (NAR) and the local Osceola County Association of Realtors (OSCAR) are doing squat for their members and leaving real estate consumers in the lurch.

Neither organization has done much more than pitch sales at their members. They've done nothing to train their Realtor members on how to handle short sales.

It is time that NAR and OSCAR act responsibly towards towards consumers. It is time they start adequately training agents in short sales.

Taina Noland wrote:

The National Association of Realtors (NAR) and the local Osceola County Association of Realtors (OSCAR) are doing squat for their members and leaving real estate consumers in the lurch.
Neither organization has done much more than pitch sales at their members. They've done nothing to train their Realtor members on how to handle short sales.
It is time that NAR and OSCAR act responsibly towards towards consumers. It is time they start adequately training agents in short sales.

NO law say you have to be a member. Many good Realtor are not.

Help with mortgage wrote:

Does anyone else have any good sites that can help?http://www.needhelppaying bills.com

A Kissimmee/Poinciana source for help and freebies is located at the following address:

http://poincianahome.typepad.com/blog/freebie...

.

Taina Noland wrote:

The National Association of Realtors (NAR) and the local Osceola County Association of Realtors (OSCAR) are doing squat for their members and leaving real estate consumers in the lurch.
Neither organization has done much more than pitch sales at their members. They've done nothing to train their Realtor members on how to handle short sales.
It is time that NAR and OSCAR act responsibly towards towards consumers. It is time they start adequately training agents in short sales.

Just get a real job and you wont have to worry about it.

Here is a nice, current answer to the reporter's question:

" Reuters
Home prices to fall on liquidity concerns: analyst
Tuesday September 16, 5:39 am ET

(Reuters)- The collapse of Lehman Brothers Holdings Inc (Pacific:LEH - News) and takeover of Merrill Lynch & Co Inc (NYSE:MER - News) will cause liquidity in the credit market to shrink, resulting in lower home prices, prominent U.S. banking analyst Meredith Whitney said.

The Oppenheimer & Co analyst also expects fewer mortgages to be available for prospective homeowners, as she sees no hope for the return of the mortgage securitization business.

"All this creates a recipe for meaningfully lower U.S. house prices," Whitney said.

The magnitude of houseprice declines in the next few years could likely exceed expectations of both the markets and the companies, she wrote in a note issued late Monday..."