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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Kona who wrote (6454)	10/31/2002 5:44:02 PM
From: David Jones	Respond to of 306849

....Foreclosures leap 21% in Bay Area State economic woes take toll on homeowners ... I get a bit peeved when I read percentages without the actual numbers. Sometimes I'm convinced pundents leave out such info for the sake of a head line. There's valid information but you have to weed through to find it. For instance after all the negative information comes the following lines. ...Karevoll said about 75 percent of California homeowners in foreclosure are able to bring their payments current before the lender seizes the property. In the Bay Area, that figure is closer to 90 percent, he said. In fact, he said, only 125 trustees deeds were filed in the Bay Area in the third quarter, compared with 182 for the third quarter of 2001. Moreover, the quarterly default filings are still less than half of what they were in the peak of 6,828 in the first quarter of 1996. "A 20.9 percent increase looks like a lot, but it's really just dragging along the bottom," Karevoll said....

To: Kona who wrote (6454)	10/31/2002 6:19:46 PM
From: Les H	Read Replies (1) \| Respond to of 306849

Went to the Dulles Town Center mall, which is similar to the huge Tysons Corner mall here, for the first time in awhile. Probably 20 percent ore more of the storefronts appear to be shuttered, and one of its larger storefronts was a seasonal Halloween store which will be shuttered after its run thru the end of the year as a Christmas store. Either retail must be down the toilet here in Loudoun County or they're getting killed by the discount warehouse stores Costco, WalMart, and Sam's Club nearby. Normally, I don't see the shuttering of weak stores till after Christmas. This looks really bad for post-Xmas retail employment.