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

To: nextrade! who wrote (17324)	2/14/2004 5:15:33 PM
From: nextrade!	Read Replies (1) \| Respond to of 306849

HUD, EBay style ! <g> HUD to hold house auction online, fcw.com The Department of Housing and Urban Development will sell up to 4,000 homes in a two-day Internet auction as a way to increase homeownership opportunities. Using the Internet to sell homes is not new, however the department will publicize the auction in major newspapers throughout the country for increased exposure. Properties, which were acquired through foreclosures, will be pulled from the marketplace three weeks before the Feb. 27-28 auction. They will be listed on the HUD Web site, allowing prospective homebuyers to inspect houses and view neighborhoods before submitting their bids. HUD's Web site will have instructions on how interested homebuyers can find properties in their states. More complete information on the properties will available in that state. All properties will be sold on an as is basis without warranty or guarantee. The auction begins Feb. 27 at 10 a.m. EST and ends Feb. 28 at 11:59 p.m. Bid results will be announced Feb. 29 on the Web sites where the properties were listed.

To: nextrade! who wrote (17324)	2/14/2004 9:11:05 PM
From: Ali Chen	Read Replies (1) \| Respond to of 306849

"Area foreclosure postings continue their upward climb in 2004, increasing 18 percent" I hate this kind of journalism - the f-king article never mentions any total number of houses in the area. Without that number the whole article may be a pure FUD. Ok, I did a quick research: Tarrant County tarrantcounty.com\|6091\| has a population of 1.4M. Although I didn't find the housing statistics, but looking at the income per capita and the median household income, I estimate the number of houses as 677,000 homes. 2500 foreclosures constitute less than 0.4% of the total housing. Who gives a crap about such small percent - it is just noise. I wonder what is the purpose of this kind of articles, create more fears? What is the goal? - Ali