Five Ways to Survive the Housing Slump

It is evident that you are a real estate agent and one like Dr. Lawrence YUN (MORON) that continies to deny that the Housing BUBBLE has finally BURST!!!! Have you ever looked at the Foreclosure Reports kept by Realty Trac? The Subprime Mortgage Mess is REAL and over the next 2 years, 2 MILLION people are going to lose their homes to Foreclosure. Have you ever looked at the MLR to see just how many properties are on the Market FOR SALE???? There is a RECORD number of properties still sitting UNSOLD. The news media only REPORT the news SIR... they don't create it!!!! WAKE UP and see what is actually happening across this country and the Real Estate Market that is currently in RECESSION and going into a DEPRESSION.

Maybe Mr Talbot cannot sell for 2007 prices.. fact is cant sell for 2006 or 2004 prices... as prices decline he wont be able to sell for 2000 prices... as was the case in the past bubble decline... so this will also occur.

No Bevnlou. Maybe Mr. Talbot does not want to sell regardless of home prices, you moron! People cannot buy because they cannot afford now that the Mickey Mouse loans are gone. It does not matter what the media says, you worthless realtor troll.

Ken, you hot the nail on the Head!!!! If I go out and buy a Jaguar is the Government going to bail me out and help me pay for a car that I knew I couldn't afford. I Don't think so.... so the Government has NO business bailing out people who bought a house that they knew they couldn't afford either. People MUST take some responsibility for their ACTIONS... and stop expecting the Government to bail them out for their own stupid MISTAKES!!!!!

Dear ericka: Housing prices are going to drop 30-50% over the next 2 years. Housing prices became WAY OVER PRICED in relationship to WAGES! House prices CANNOT continue to go up faster than Wages.. it is just NOT sustainable. This is Basic Ecinomics 101. Have you ever taken an Economics course? I think NOT. You can deny what is happening in the real estate market but that doesn't mean the Housing BUST is going to get any better any time soon. Prices continue to drop over the next 2 years then remain FLAT for the next 10 years. Real Estate is NOT the great Investment that Real Estate Agents and Brokers wnat you to believe. A House is a place to live and NOT a RETIREMENT PLAN!!!!!!

I Suggest erikabladh read your message and find our what is going on in the Current real estate market. I wonder if she ever leaves her house or just is too Depressed to go out and see the HOUSING BUST that has occurred and will only get WORSE next year and into 2009.

It doesn't take a Rocket Scientist to KNOW that the Housinfg market is in a Recession in some parts of the U. S. and a Depression in some other parts (Miami, Las Vegas, Cleveland, Detroit, Phoenix, xtc.) of the U. S. You have evidently been buying into all the B#@L S*@it the Dr Lawrence YUN, chief Economist for the NAR. He has been totally WRONG since the beginning of 2006, by telling peoiple this is the time to buy a house. HOGWASH!!!!! Housing Prices are going to continue to DROP over the next 2 years.... then prices will remain FLAT for at least the next 10 years. I suggest that you start looking for a NEW Profession because thousands of real estate agents are already leaving to find jobs that can pay their monthly bills. WAKE UP AND SEE WHAT IS REALLY HAPPENING!!!!!

Dear inet49
If you plan to stay in your house for another 10 years at the very least then I would agree you should go ahead and make improvements. You are going to discover that 2 years from now your house will only be worth what you paid for it in 1997. That 50% appreciation that you are counting now will Evaporate over the next 2 years. John Talbott is a Realist and he knows what is happening in the current Housing BUST!!! It appears to me that you have had your head in a hole as to what is going on in the real estate market.

If you don't think that Cleveland, Detroit, Las Vegas, Phoenix, Miami, Ft. Lauderdale, most cities in California are NOT in a Housing Recession..... you must be hiding under a rock or a Real Estate Agent. Ben Bernanke is responsible for the Housing Bubble being created by keeping interest rates too LOW for too LONG!!!! He continued to print money and feed the Housing MANIA. Banks were giving mortgages to anyone with a pulse. Now the party is over and it's time to pay the PIPER!!!!!

I totally Disagree with this Realtor about Home Improvements. I WOULD NOT make any improvements in any house UNLESS you plan to live in that house for more than 10 years. If you expect to sell your house within the next 10 years you WILL NOT RECOVER any of the money to improve your house. In today's Buyer's Market, Buyers are NOT willing to buy for extra improvements that you make and prices are dropping so you are just wasting your money. I would NEVER listen to a real estate agent... they are one step above Used Car Salesman. Realtors are part of the Subprime Mortgage Mess because they didn't care of the buyer could afford the monthly payments after the first year..... thye already made their Big Fat Commission. I think some of the home Owners losing their Homes now should go after their Realtors and SUE the pants off of them!!!! Maybe they will change their business practices BUT don't hold your breath....

Since you are a realtor whore, I would never expect you to tell the truth, even if your mother's life depended on it.

I hate to say that your friend F*@#ed you over Big Time for his own Greed. Housing prices in Miami are going drop 30-50% over the next 2 years. With an ARM Loan interest not being paid is being tacked onto the principal at the very same time that housing prices are Dropping. If you are not already UNDER WATER, you wll be in the near future. If I were you I would try to get the mortgage holder to agree to a SHORT SALE of your house. If they don't agree to a Short Sale you will eventually LOSE your home to Foreclosure. You are now between a Rock and a Hard place. You have dug yourself in to such a HOLE that there is no way for you to prevent it from collapsing on you. I would stop paying your mortgage, put it up for SALE and Price it to SELL and look for a place to rent while your credit is still OK. Once your house is Foreclosed on, you FICO score will go down the drain. GOOD LUCK!!!!

I hate to say this but your friend F*@#ed you over Big Time. Real estate prices in Miami are Headed down 30-50% over the next 2 years. With your ARM Loan, every month interest is being added to the principal at the very same time that prices are going down.If you are NOT already UNDER WATER, you will be soon. If I were you I would try NOW to do a Short Sale of your home because otherwise you are just digging yourself deeper into a HOLE every month. Eventually, the hole will collapse and you will lose that Over Priced home. I say cut your LOSES NOW!!!!! If your bank won't agree to a SHort Sale.... I would stop paying the mortgage and look for a place to rent while your credit is still good. Once your house goes into Foreclosure, your FICO score will be seriously damaged. Good LUCK.

I'm sorry about your tough situation. Predatory lending, in any form, should be illegal. It all boils down to greed. It shows that government regulation is necessary to keep lenders in line. I know it doesn't seem like it now but on the bright side you are obviously young enough to recover from this experience. Imagine what it would be like to be retired, be on a fixed income, and have to go through what you are going through. Good luck

What is your position? Realtor, Loan Officer, Home Appraiser? Coming down to 1997 levels does seem a bit dramatic. I purchased a house in 1999 for 167,000. I sold it in 2005 for 525,000, this increase was very dramatic. This more than tripled in value in 6 years. To afford this house one should gross approximately 132,000 per year. The problem was the ARM's. In addition a minimum down 52,500 (10%) or 105,000 (20%) was not required. I would suggest that if your busness is one of the ones I listed above you find a new job and quit spreading proaganda.

What is your position? Realtor, Loan Officer, Home Appraiser? Coming down to 1997 levels does seem a bit dramatic. I purchased a house in 1999 for 167,000. I sold it in 2005 for 525,000, this increase was very dramatic. This more than tripled in value in 6 years. To afford this house one should gross approximately 132,000 per year. The problem was the ARM's. In addition a minimum down 52,500 (10%) or 105,000 (20%) was not required. I would suggest that if your busness is one of the ones I listed above you find a new job and quit spreading proaganda.

What is your position? Realtor, Loan Officer, Home Appraiser? Coming down to 1997 levels does seem a bit dramatic. I purchased a house in 1999 for 167,000. I sold it in 2005 for 525,000, this increase was very dramatic. This more than tripled in value in 6 years. To afford this house one should gross approximately 132,000 per year. The problem was the ARM's. In addition a minimum down 52,500 (10%) or 105,000 (20%) was not required. I would suggest that if your busness is one of the ones I listed above you find a new job and quit spreading proaganda.

The Leander that took over for the one that went out of business is still responsible and held accountable for any and all sub prim lending that is going on, any one that feels that they have a mortgage that is deferent or that is not begging told how has their note needs to call their Attorney General office and take leangle action against the new company, there are many company???s still out their not doing the right thing or trying to take short cuts in trying to collect their money ( read Saturdays Cleveland Plain Dealer).

No, you will not be able to sell for a profit in 2 years. In two years, it will probably be a great time to buy a home. I wish all you people in the mortgage/real estae industry would stop spewing this nonsense just because business is bad. You were wrong when you said there was no bubble at all, you were wrong when you said it would only result in a soft landing, and you're still wrong now.