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Empty houses

StockMan69 said: "There are so many empty houses around where i live. You think they will ever be sold?"

lil dickie said: "Someday. But probably with foreign investment money. Unless another boom starts up."

Heather said: "I'd say your location will have a lot to do with it. Homes in the inner city are a hard sell."

ratAphooey said: "Run down crap is impossible to sell. A bigger problem is that you cant always tear them down either."

Heather said: "One of the bigger problems is that metal scrap thieves are tearing out anything metal. Aluminum siding, copper wiring and the like and repairing these houses costs more than to demolish them. Not a good proposition.."

Aligator said: "Heather, you sound like you might live in the CA, NV, CO areas. No. I don't think they will ever sell. It'll be sort of like Love Canal. Those houses, owned by Toll Bros and others, will sit there and deteriorate and get worse and worse. The banks will take their losses, Toll Bros or whoever will fail or not fail, but they'll move on to other areas and other developments. Someday a city or county will order them destroyed. I've seen it on a small scale, but nothing like what has happened in some areas."

Heather said: "Nope, I'm from Ohio. One of the smaller cities near here is the leader in foreclosures. It's sad because it seems something better could be done with the land - I have a cool idea for it, but whether it's workable is something totally different (zoning, soil conditions, cash requirements etc.) It seems there has to be a solution to this problem. Communities in decay aren't good for anyone that exists within them. I won't even get into this because I'll end up typing for hours.. LOL!"

ratAphooey said: "I really do think it is amazing how these companies kept building while futures indicated a slowdown. This always happens with American businesses. They go crazy during booms and over do it."

Heather said: "I think that's because people "run" with a sentiment.. if they are seeing, hearing and getting "all systems go" they'll keep going forward - lending, building etc. Then at some point it tips over and the sentiment goes against the market.."

lil dickie said: "People still need a place to live. I see the unsold inventory going down in the next 36 months. Renting is still a bad deal. But of course the big problem will be who will lend money?"

electronicsseller said: "I met the same situation around me .there is no light in the houses around the place where i live during night.I believe there are no people in these houses .and i believe these houses are not sold now .the investors still have the opportunity to sell these houses ,still there are lots of people are purchasing houses ."

AlfredSokol said: "[QUOTE=electronicsseller;67188]I met the same situation around me .there is no light in the houses around the place where i live during night.I believe there are no people in these houses .and i believe these houses are not sold now .the investors still have the opportunity to sell these houses ,still there are lots of people are purchasing houses .[/QUOTE] This gets to be a real problem over time. Abandoned houses are usually a pretty good sign that people have abandoned the whole neighborhood. I never understand why the damn cities don't force homeowners to do upkeep on houses, and get them to rent them out. There should be a rule where you can't have a vacancy longer than 2 years or so."

pranith said: "I think the empty houses will be sold after some time but not right kniow."

sr106 said: "some of them are selling right now, you better contact brokerage..... i think they will help you..."