click here
Shape of things to come?? are HOA's next? click here
Record high foreclosures;click here
Wow... RTC 2.0click heream i reading way more than necessary into this. sounds very scary....to me ?
Beating a dead horse? click here
maybe not...
Duetsche bank: click here as of today, according to records they own 1113 properties in broward county.
3 comments:
HOAs could very well be next, especially those where people squeezed into McMansions and now cannot afford them resulting in non-payment of monthly HOA fees.
Adding special assessments to those that can pay will work for some time. Many of those will get fed up and eventially refuse to pay.
2500 sq ft Max.
Both of these tract home McMansions have been profiled recently.
I just noticed looking at both of these MLS listings, these tract homes are identical homes. The exterior paint on one is slightly
different than the other.
What is incredible here is $700K difference in asking price on the MLS.
MLS: H863553 asking $1.1 million
MLS: N265499 asking $408K (this is bank owned)
These McMansions are 10 block from one another in the same tract home sub-division.
What possibly could be difference in selling price. Oil well in the back yard? 18K gold fixtures? This is crazy and really shows how these prices got totaly out of hand during the bubble.
I understand the McMansion, the "american dream" and making the statement that "we have arrived" but this is a clear example of the insanity that took over the period of 2002-2007.
maybe someone can explain the $700K in additional value.
2500 sq ft Max.
Excellent article on the record high foreclosures in S Fla.
It looks like 2010 might be a very good time to buy.
We recently met with a realtor to discuss listing a rental home in a northern state with his company.
He brought printouts of recent sales and current listings within 1/4 mile.
The house we hoped to list for a quick sale of $45k, was purchased in 2005 for $52k.
Now this particular community had very little appreciation due to the bubble, and according to Case Shuller, is one of the few in the country rebounding, so we figured no problem.
Well, turns out there have been several sales in the $10-15k range, and there are several listings in the same range, all foreclosures of course.
We find ourselves wondering if it's time to short sell some of these misc homes, but wonder about the impact on our other healthy holdings.
My point is, now, if we are thinking this way, how many millions of other people are thinking the same thing, and will these foreclosures continue as a self perpetuating cycle for some years to come?
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