Comments on: ARMageddon Looms… Will You Be Ready?

By: Sadie's Take on Delaware Ohio

Sadie's Take on Delaware Ohio — Mon, 16 Jul 2007 14:52:05 +0000

And The Winner Is …

Welcome to the 50th edition of the Carnival of Real Estate, and it is an honor to host this week’s carnival at Sadie’s Take on Delaware.The 50th edition is a special honor and with 19 entries, it was a tough task to pick a winner – or even…

By: Toby & Sadie

Toby & Sadie — Mon, 16 Jul 2007 02:43:02 +0000

The market in central Ohio is also bloated with listings and a lot of “bank approval needed” short sales on the market as well. We are right there with Colorado on the most foreclosures in the country.

By: Michael Krotchie

Michael Krotchie — Tue, 10 Jul 2007 17:33:41 +0000

Thanks for the update Jennifer, and although I agree with your ‘ATM’ viewpoint I still can’t help but feel bad for some people. We’ll just have to wait and see how bad the aftershocks are.

By: Jennifer Steck

Jennifer Steck — Tue, 10 Jul 2007 10:40:26 +0000

Michael,

While there were some statistical discrepancies in the reporting, Denver has seen high levels of foreclosures. While I understand some of the confusion over ARMs and how high payments would go, the homeowners who have used their houses as ATMs and still expect to walk away from a closing table with money disturb me even more. It has become acceptable to walk away. The number of short sales and foreclosures in some of our neighborhoods are astounding. I hope 2008 brings the end of this cycle. In the meantime, investors have lots of great opportunities.