How bad? Real bad

Posted at 11:57 AM on April 8, 2008 by Bob Collins (2 Comments)

Realtor and blogger Teresa Boardman has "the numbers no one wants published."

Thirty percent of the properties on the market are in foreclosure.

And she reveals:

Banks really are dropping their prices and starting to actually sell off the properties they own. I am noticing that when my clients make offers on these properties they often end up in multiple offer situations. Some of the banks are dropping their asking price every week or two until they start getting offers. They then wait until they collect a few offers and start working with the best one, taking care that each buyers knows he or she is in a multiple offer situation and can raise their bid.

Comments (2)

And nationally numbers nearing 1 Trillion dollars in losses. IMF reports

Posted by Jim | April 8, 2008 4:02 PM

It is the sworst economy Linda and I have ever seen. We bought on new home just two years ago and have watched its market fall, as we pay high taxes, and pray that we hang on to our jobs. That said, things have been bad before and do get better. I think it best not to panic but to vote carefully this year. To change course quickly would be a mistake
My son is a police officer and he is worried about his job. We need more police officers on the streets right now, as crime rises when people are idle.
We all need to turn our hearts to the Lord at this time.

Posted by Larry Reed | April 8, 2008 7:41 PM

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