CraigsList's Well Runs Dry

NEW -> Contingent Buyer Assistance Program
R

redline122_IHB

New member
As part of my due diligence when looking for the upgrade home (rental or purchase), I hop onto CL to see what homes are floundering about. And well, let's just say the lists seems to be getting a little sparse.



Heck, if I simply look at the <a href='http://orangecounty.craigslist.org/rfs/' target='_blank'>CL Real Estate for Sale for the OC</a>. The most recent listing was back on 8/14/2008. Any thoughts on what this all means? Could it be that home sellers or landlords are turning to more professional means to lease or sell out there homes?
 
[quote author="Ambiepants" date=1219827753]... or they've just stopped trying. Game over.</blockquote>


Desu.



I think Craigslist is a horrible way to sell a property. However, if you want used CD's, car parts, or musical instruments, it works pretty well.
 
More than likely the people in foreclosure are waiting with thier banks for oct 1st. The new fha bail-out hits. It will be fun to watch only 1/4 will beable to afford the new fha 30year loans.
 
[quote author="PadreBrian" date=1219839451]More than likely the people in foreclosure are waiting with thier banks for oct 1st. The new fha bail-out hits. It will be fun to watch only 1/4 will beable to afford the new fha 30year loans.</blockquote>


Yeah but coincidentally Oct. 1 is also the date that FHA will no longer accept buyers using down-payment assistance programs and is raising the minimum down from 3% to 3.5%. Soooo... if those sellers are hoping to be bailed out but still can't manage well then they have an even smaller pool of buyers to contend with. The noose is tightening.
 
Craigslist was started as a listing service for rental properties in San Francisco. It has actually made a fair amount of cash in this capacity. However, the farther away you get from the Bay Area, and the farther away you get from rentals as the main focus, the less useful it becomes.
 
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