I was just wondering if anyone knows what is going on in the States hit by Katrina. We usually have over 100 foreclosures on the market and we have less than 20. I know there was a moratorium on Foreclosures, but I though it was lifted in June?

Thanks!!

Tara

coxtara@bellsouth.net

Many of the homes are still being held to be available for purchase by Katrina victims.

As per HVH:

Effective, Friday, May 5, 2006, HooksVanHolm Inc.will gradually be returning housing inventory in the states of Alabama and Mississippi.

Gradually (in government speak) means S-L-O-W!!!

There are still 4 properties that are vacant in my area that were vacant before, during and after Katrina! I spoke with a rep last week and they assured me that we'll get some inventory "soon".

How's "regular" business been over in Mobile?

Regular business is good. It is a sellers market since the hurricane. I appreciate the info. It is the same way here many of the contractors I use are maintaining homes that have been vacant since before the hurricane. I hope business picks up soon.

Thanks!
Tara

Strange that it's a seller's market there. I am only an hour away and here you can pretty much park your car anywhere and you're within a stone's throw of hitting a for sale sign. I also see for rent signs everywhere I look. I guess a good hurricane could change things pretty quickly.

It's a buyers market here. Unfortunately, the sellers don't want to admit it yet! Add that to the tons of green agents who will list property for whatever the seller says and you get a very distorted picture.

The other problem is that agents from the island are heading north since business is non existant there. They have no concept of property worth and location outside of the island and are basically "in the way". It's been a nightmare wading through these idiots.

Condominiums are DEAD! Thankfully, I got out of that business about 6 years ago & have been happier ever since. We developed several condomium complexes in Gulf Shores and while it was fun, I don't miss it.

Karl.. I've got a property in Lillian that may be of interest to one of your customers/clients. It's a home on 2 acres and only minutes to Pensacola. Let me know if you want details.

I never thought of it before, but after reading this post, I wonder if you might not want a different name for your company Scott?? Maybe "Ocean Breeze"

Y'all hang in there... We went through a major earthquake in 1989, coupled with a bad market over all which made 1990-92 worse hell here than everywhere else. But 1997-2005 were a dream... This too shall pass.

Same problems here. Lots of property for sale on the beach (Santa Rosa Island) and other waterfront. None of it is selling. Over 1/3 of the homes on the market are overpriced. Sellers don't want to face the facts.

Scott, if I get any clients looking for property like you described I will get in touch. Thanks for letting me know.