Coming Soon: More Foreclosures

More than 1.7 million homeowners were verging on foreclosure this fall, making it likely that these houses will soon end up on the market one way or the other, driving down overall housing values.

"We're going to be dealing with high levels of distressed (sales) in the marketplace for at least a couple of years," says Mark Fleming, chief economist of researcher First American CoreLogic, which has been studying the problem.

Some real estate practitioners say they fear that this onslaught is coming.

"We've been in recovery mode for most of the year. How many foreclosures do they have to dump on the market to affect that? I don't know," says Deborah Farmer, owner of StarLight Realty in Tampa, Fla. "Any house priced under $225,000 will be affected by a large increase in foreclosures in this market."

Source: Associated Press, Alan Zibel (12/17/2009)

For Sale: 3BR/2+1BA Single Family House in Roslyn, NY, $699,000

For Sale: 3BR/2+1BA Single Family House in Roslyn, NY, $699,000

Imagine Living in this three bedroom home on Main Street in Historic Village of Roslyn on over a quarter acre of land. While you enter the front door you walk threw the dining room which leads you to through the Living room to the eat in kitchen where there is a powder room. There are two staircases that bring you to the second floor which features three nice sized bedrooms with two full bathrooms. Since there are three working fireplaces you will not need to use the heat, which is Gas with a separate Hot Water Heater. This property is Walking distance to the LIRR and the immaculate town of Roslyn Village where there is plenty of transportation. Roslyn School district, 1.5 Car garage, plenty of storage.