The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

REAL ESTATE America's Hardest-Hit Foreclosure Spots

imirza

Contributor
Jul 29, 2007
227
91
48
98

hakrjak

Bronze Contributor
Read Millionaire Fastlane
Sep 15, 2007
1,978
140
88
Colorado Springs
Everything I've been hearing this week has said that Stockton California is the foreclosure capital of the country right now. Funny how all these articles have a different take.

- Hakrjak
 

Reisteve

New Contributor
Dec 6, 2007
20
2
10
The article refers to pure 3's, not a per household type numerb where Nevada is on top.

As far as counties, yes most of the Central Valley of California is in FC... especially Stockton and Sacramento....

Detroit has always been tough...and with the car manufacturers closing some of the plants, it is pretty bad there...

So in reality, who wants to be number 1 in this category anyway???

Steve
 

hakrjak

Bronze Contributor
Read Millionaire Fastlane
Sep 15, 2007
1,978
140
88
Colorado Springs
Yeh Stockton & Sacramento aren't going to recover until the technology business in California recovers. Their boom was largely because of all the folks commuting to the bay area, and looking for a cheaper spot to live. Tech has never fully recovered from the crash of 2000 -- And with no other major industry to supply jobs with high pay, there is nobody to buy these overpriced homes.
:fastlane:

- Hakrjak
 

bigmako

New Contributor
Jan 25, 2008
44
7
9
California
Are you not forgetting Ventura County?
This is where one of many Countrywide offices (HQ in Calabasas) are located and I'm sure we all remember the financial fiasco they seemed to cause, right?
 

andviv

Gold Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
Summit Attendee
Speedway Pass
Jul 27, 2007
5,419
2,190
625
Washington DC
Well, I'm sure Russ H will not agree with your statement...
 

JScott

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Speedway Pass
Aug 24, 2007
4,203
8,117
1,961
I think we all can agree, California in general is bad in so many ways...

Foreclosures

Lay-offs

Tough state to jump in to the FAST LANE, if you where not their already.:smxE:
Buy low, sell high.

This adage doesn't just apply to prices of stocks, but to all investing. When a market is down, that's the right time to buy. When a market is up, that's the right time to sell.

Too many people tend to think the opposite, which is why bubbles happen (everyone piles on the hype). You want to be selling at that point, taking the profits you've accrued since buying at the bottom.

In my opinion, this is the easiest time (or at least will be soon) to start jumping into the Fastlane...
 

andviv

Gold Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
Summit Attendee
Speedway Pass
Jul 27, 2007
5,419
2,190
625
Washington DC
I've noticed that, usually, those with the real knowledge (i.e. experience) have the capital.
 

Don't like ads? Remove them while supporting the forum. Subscribe.

Reisteve

New Contributor
Dec 6, 2007
20
2
10
Are you not forgetting Ventura County?
This is where one of many Countrywide offices (HQ in Calabasas) are located and I'm sure we all remember the financial fiasco they seemed to cause, right?

The numbers in Ventura County are noting compared the balance of California. Sure, they are up... Even stuff in Santa Barbara is being forclosed on and that almost never happened 3 years ago...

Stockton, Sacramento, are horrible....

Countrywide has office all over.. Lancaster LA and Calabasas.. but they also have offices in Plano, Tx.... Countrywide's problem is that it was not diverse enough in spreading out where the balance of their loans were written or where they bought their pools from... IF they had been more diverse, they would have had far less California loans and a wider range across the states... Poor managment... Manzilo, The CEO, talks a line that he was fed from his minions...

Just my thoughts..

Steve
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.


New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Sponsored Offers

Lex DeVille's - Advanced Freelance Udemy Courses!
-- HALLOWEEN SPECIAL STARTS TODAY! Get any of my courses at Udemy's current best price through Friday! Use code: HALLOWEEN Use any of the links...
Top Bottom