Loann Behold

Blog by Loann Barter

Branson, Missouri

An ongoing discussion of Real Estate in the Ozarks in Southwest Missouri, especially in the Tri-Lakes Area.

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What Foreclosure Problem?

Posted at Loann Behold by Loann Barter

Sep. 18, 2008

Categorized in: Southwest Missouri Real Estate

A recent article in Time Magazine states:

“Buying a home while prices are sliding is not an easy decision. But if your goal is to retire to a vacation-like property in a decade or so, you can afford to buy now. Today’s tepid housing market may offer a great opportunity to put your plans into motion early. Consider buying now and collecting years of rent to defray your costs. For the first time in years, home prices have slipped enough in some regions for the math to work, including, Destin, FL; the Outer Banks of North Carolina; Branson, MO; and the Smokey Mountains. If one week of peak rental income can cover a month of mortgage expense, the deal is a winner.

· “The foreclosure problem in this country is really a story about seven states

· The foreclosure problem is in Michigan, Ohio, and Indiana. (These are predominantly manufacturing states.)

· Since 2001 Michigan has lost 300,000 jobs

· The other four states are California, Florida, Arizona and Nevada. In each of these states, there has been a significant overbuilding. 25% of the foreclosures in these states are on properties that are held by investors who were speculating.

· California & Florida have been hit very hard.

· 35% of the homes in the USA do not have a mortgage.

· 98% of the mortgages in the USA are performing.

· Only 9% of all mortgages are sub-prime.

· 75% of all sub-prime mortgages are performing.

· In the other 43 states, foreclosures have fallen in 2007 and 2008.”

I thought it an interesting article to share with you. Contrary to what the media keeps feeding us, most of the USA is doing well! Believe it! It will be true! Property is selling in Missouri, especially in our area. There are lots of wonderful properties to choose from! Just ask, and I will be there to help you find exactly what you are looking for!

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