SVP of Realty Trac says the foreclosure crisis isn't over yet, especially here

Fall 2009 "The Chicken Stare Down 1.0"

Fall 2010 "The Plucked Chkn Stare Down"

Fall 2011 "The Chkn w/o Head Squirting Blood Stare down"

Fall 2012 "The Stare Down against a bucket of KFC"

Fall 2013 "The Stare down against some bones of a Chkn"

Whoever blinks first gets smacked in the financial groin.. or the female equivalent.. thats for manhattanfox

LOL w67 I can always rely on you for a laugh :)

so if nyc foreclosures take 695 days all those ones that began in 07 should be comin on the market soon. yummy!

Since when is NY State considered "here"? NY State is quite big you know...

LD....you're spot on with this podcast recommendation....Miller gets some very good guests and also the occasional bomb....the Realty Trac guy was very good.
I'll assume he's a reader here.....was going to email him with the congrats but you've saved me the bandwidth...

More confirmation that we are sailing in the right direction.

Anticipation, anticcccccipaaaaaaaation, it's making me wait
waaaaaaaaaaaaaaaaaiting, it's makin'in me wait...

I was just talking with a guy in my office who has a listing in an older condo building in Chelsea. Off the top of our heads, we could think of about 10 units in there which will end up being foreclosed on because we know the rents won't cover the debt service and the owners can't pony up the difference. In one case, he has an exclusive where the tenant is being EXTREMELY difficult in showing the unit. But then, this tenant is in contract to buy the same unit on another floor, but it's at a number below the amount of the first mortgage and there's a second on top of that which would get wiped out, so why would they sign off on it? And the rent he would get from a new tenant is probably about $4,000 and his costs are probably around $6500.......

and this is just the stuff we could come up with off the top of our heads in 5 minutes which we know about in one building.

30yrs, priceless.

Thanks mjsalisb I agree it's one of the best podcasts anyone interested in real estate can listen to b/c it's transparent. Miller doesn't candy coat what's happening & I as a potential buyer, truly appreciate that b/c you know as well as I do that if you talk to a real estate broker, they will ALL tell you 'Buy Now, Buy Now', prices aren't going to drop anymore just so they can make a sale. At least Miller is honest.