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Meridian, ID

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Riding the 2nd Wave of Foreclosures

06-22-09
Tom Zumwalt
Tom Zumwalt: Real Estate Agent in Meridian, ID
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  • Office: (208) 377-0422
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Riding the 2nd Wave of Foreclosures by LeeGraham

Driving South on Interstate 75 in Marietta, GA everyone on their way to work looks up to see the big realty company sign that tells how many listings are on the market, waiting to be sold. The numbers have finally made it back in the 70,000 range which is what we used to call “normal” when referring to the then thriving Georgia Market. We may be tempted to give a sigh of relief that things are finally returning to “normal,” but the numbers portray a false security.
May’s foreclosure statistics reported the third largest number in history of U.S. properties with foreclosure activity. Although the number was down 6% from April, still 321,480 homes showed filings for foreclosure, notices of default, or were marked for auction and repossession. May also was the third straight month of national foreclosures exceeding the 300,000 homes mark. According to a report put out recently by RealtyTrac®, 1 in every 398 U.S. homes received a foreclosure filing in May. Georgia is currently ranked 7th in properties with foreclosure filings. In Georgia, 1 in every 377 homes is involved in foreclosure activity, a figure slightly under the national average.
Though there may seem to be signs of less homes on the market, and thus the return of a healthy, more stable real estate economy – the problem lies in the reality of a flood of foreclosures that has been dammed up by various state regulations and the Obama administration’s requests in the form of an imposed moratorium since October 31, 2008. That moratorium was lifted March 31st, and now banks and mortgage companies are aggressively engaging their previous process and policies of foreclosure regarding delinquent homeowners. We haven’t seen the effects of the flood yet because evictions and notices take time. But be assured, it’s coming. RealtyTrac’s executive officer James Saccacio stated this month “We expect REO activity to spike in the coming months as foreclosure delays and moratoria implemented by various state laws come to an end.”
Many people have been living in their homes for 6 months to a year without making payments, and without so much as a peep from their mortgage company. Many lenders had slowed or stopped their foreclosing on borrowers waiting for clarification on Obama’s housing-rescue plan introduced in February, and the possible incentives accompanying it. Other mortgage companies delayed foreclosures simply trying to deal with and strengthen their own programs to withstand the onslaught of the first wave and to comply with the changes in state laws. But now with the moratorium lifted, the dam has begun to crack, and the force of the waters behind it is great – and these guests who have overstayed their welcome are being told to pack their bags -- quickly.
The effects of this 2nd wave of foreclosures on the real estate industry and the economy at large are uncertain. Some experts expect more than 2 million homes to be foreclosed on in 2009 and that this flood of properties may cause further decline in home prices of up to 20%. So, I guess it’s fair to say we’re not out of the woods yet. At the same time though, it’s not all doom and gloom. With the second wave of foreclosures on the way, the agents who have survived through grit and professional determination, savvy investors, and homebuyers have a chance to ride the wave -- this time with more experience, more opportunity, and potentially more incentives than ever before. I have hope that, although the real estate industry led the way in getting us into this mess, it will also lead us the way out.

 

Lee Graham is an Associate Broker and owner of The Graham Group, a premier team of real estate professionals specializing in Atlanta Real Estate. Their areas of expertise include Residential, Foreclosures, and Short-Sales. View more information at www.AtlantaGroupRealEstate.com.

Article Source: http://www.articlesnatch.com


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Tom Zumwalt, e-Pro Realtor
Licensed in Idaho

Cell: 208-861-2344
E-Mail Tom
SilverCreek Realty
254 S Cole Rd
Boise, Id 83709
208-377-0422

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Welcome to Meridian, Idaho. That States fastes growing city.

06-07-09
Brian Brumpton, Boise Idaho Real Estate
Brian Brumpton, Boise Idaho Real Estate: Real Estate Agent in Boise, ID
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  • Office: (208) 407-3265
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www.brianbrumpton.com biography featured listings Boise Relocation Information Local Boise Events Search For Boise Homes Free Reports About Real Estate

Meridian is the second largest city in Ada County.  The city's central location offers many advantages to it's residents.  Meridian's unique identity as a place that treasures its past, appreciates the present, and looks to the future with a spirit of harmony and prosperity is part of what makes it the fastest growing city in Idaho. Meridian is located in southwest Idaho, approximately 10 miles west of the State Capitol in Boise.

As of July 2007, the population estimate of Meridian was 64,642. Meridian is the third-largest city in Idaho behind Boise and Nampa, all located in the Treasure Valley.

Learn more about relocating to the city of Meridian, ID.

Search Meridian homes for sale: click here

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Are your looking for the best deal on a new home in Meridian?

06-06-09
Trey Langford
Trey Langford: Real Estate Media in Meridian, ID
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  • Office: (208) 724-9636
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It does not get any better than cost. This builder/ developer is offering to build the first two homes in Milford Creek at cost!!!! That is right at cost. Now of course, you would want to fully check out the contractor and the deal beofre you take the deal but if the builder is willing to build home in the subdivision at cost just to drive some activiity- so be it! Learn more about Milford Creek

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Meridian Idaho Calendar of Events June 2009

05-25-09
Leslie Hampton Realtor Boise and Eagle Idaho Homes
Leslie Hampton Realtor Boise and Eagle Idaho Homes: Real Estate Agent in Eagle, ID
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Thank you to the City of Meridian for providing much of this information. Additional information is gleaned from posted news at KTVB.com, The Idaho Statesman, the Meridian School District, etc. Information should be verified as accuracy is not guaranteed and events are subject to change and/or cancellation.

Meridian Idaho Calendar of Events June 2009

2 McFadden Co-op Farmer's Market, 5-8 pm, City Hall Parking Lot at Main & Broadway in Downtown Meridian

5 Dedication of Gordon Harris Park(formerly Kiwanis Park), 4:00 pm, 2400 E. Three Bars Drive, Call 888-3579

5 CableOne Movie Night in Meridian, Nim's Island, Beginning at dusk outdoors in Settlers Park, Free

5 Rocky Mountain High Football BBQ & Fair, 5-9 pm, $10 Adults/$6 Under 12, Tickets: r2piggys@cableone.net

6 Community Renaissance Fair, 10 am-7 pm, Settlers Park, Vendors & Entertainers Needed, Call Jackie 922-9018

6 Community Concert & Bite of Meridian, TBA, Crosby Park in Paramount-Meridian, Call Angie 378-4000

7 Art & Roses Art Show & Sale, 10 am-6 pm, Julia Davis Park Rose Garden, Music & Concessions, too!

9 McFadden Co-op Farmer's Market, 5-8 pm, City Hall Parking Lot at Main & Broadway in Downtown Meridian

12 CableOne Movie Night in Meridian, Speed Racer, Beginning at dusk outdoors in Settlers Park, Free

13 Resource Fair for Families with Children with Disabilities, 9 am-Noon, Settlers Park, Free, Call 887-3531

13 Commemoration Ceremony for Adventure Island Playground, Noon, Settlers Park, Free, Call 888-3579

13 Paint the Town, Volunteer Teams Needed to Paint and Improve Local Homes, Call 343-4065

13 Old Town Community Clean Up, 9 am-2 pm, Volunteer welcome, Call 846-7360 for details

16 McFadden Co-op Farmer's Market, 5-8 pm, City Hall Parking Lot at Main & Broadway in Downtown Meridian

18-20 Dairy Days Celebration - Multiple Activities, Contact Meridian Chamber of Commerce, 888-2817

19 CableOne Movie Night in Meridian, Babe: The Gallant Pig, Beginning at dusk outdoors in Settlers Park, Free

20 Concerts on Broadway Series-Kings of Swing, 7:00 pm, City Hall Outdoor Plaza, Free

23 McFadden Co-op Farmer's Market, 5-8 pm, City Hall Parking Lot at Main & Broadway in Downtown Meridian

26 CableOne Movie Night in Meridian, Space Chimps, Beginning at dusk outdoors in Settlers Park, Free

27 Champion Park Neighborhood Yard Sale, 8 am-2 pm, Off Ustick, between Eagle Rd. & Locust Grove

27 Settlers Village Square Dedication, Time TBA, Settlers Park (corner of Ustick & Meridian), Free, Call 888-3579

30 McFadden Co-op Farmer's Market, 5-8 pm, City Hall Parking Lot at Main & Broadway in Downtown Meridian

 

** To add your Meridian area items to this calendar, please contact Leslie Hampton at lesliehampton@msn.com or (208)713-0574.

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Friday Nights* Meridian, Idaho* Summer 2009- Free Movies are Back!

05-25-09
Leslie Hampton Realtor Boise and Eagle Idaho Homes
Leslie Hampton Realtor Boise and Eagle Idaho Homes: Real Estate Agent in Eagle, ID
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  • Office: (208) 713-0574
  • Mobile: (208) 713-0574

CableOne, in conjunction with Meridian Parks and Recreation, has another fun-filled summer of movies planned for area residents.

Thank you to CableOne and Meridian Parks and Recreation for bringing back the awesome, FREE, highly attended summer movie nights. These terrific events are held Friday evenings (beginning at dusk) at Settler's Park in Meridian, at the corner of Ustick and Meridian Roads.

Summer Movie Nights Meridian Idaho

 

CableOne projects good, family friendly movies onto a HUGE screen; the movies are free- just bring your family, lawnchairs, snacks, mosquito repellant and blankets.

mosquito free movies

 

My family has attended these movies in the past and we had a really great time, watching fun movies under the stars.

The movie schedule is as follows (this information is from the City of Meridian website):

June 5: Nim's Island

June 12: Speed Racer

June 19: Babe: The Gallant Pig

June 26: Space Chimps

July 3: Star Wars: The Clone Wars

July 10: Hotel for Dogs

July 17: Journey to the Center of the Earth

July 24: The Princess Bride

July 31: Kung Fu Panda

August 7: Madagascar: Escape 2 Africa

August 14: Horton Hears a Who

August 21: The Sound of Music

August 28: The Tale of Despereaux

 

*** Additional thanks to movie and event sponsors: Integrity Audio Visual, Power Smiles, Meridian Automotive, Meridian Dairy Days, Real Life Boise, Drug Free Idaho and MADD, Peterson's Stampede, Warm Springs Counseling Center, KIDS Choice Child Care Center, Idaho Banking Company and Reflections Church

 Enjoy!

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