Monday, December 20, 2010


we are here just been busy, got lucky and sold a couple of widgets. thankfully.

Meanwhile, 2011 wont produce any recovery in housing prices according to this article:click

since our last post had a run in so to speak with a used house salesman. bottom line the sales person ended up selling the potential client for our house a home in a development that is riddled with foreclosures, because it was cheap. I told the persons there were 2 other exact homes on the same street owned by banks and over 50 LP's filed within past six months. Bottom line, this person sold the person the cheaper home and I wonder if this person informed the buyer of same? The buyer a elderly lady is not computer saavy and I wonder if she knew or cared?
I don't understand why anyone would willingly buy in a development with numerous LP's and HOA liens, isnt it obvious someone is going to have to pick up the short fall of cash? Just sayin...... If someone sold my aged mom a home in similiar development I would be highly concerned.

We like the following charts, risky business and all.

How low can they go:? click

1 comment:

Anonymous said...

Agree, it would be financial ruin to knowingly buy in a development that has numrous numbers of LP's and Liens by the HOA.

I have noticed a major increase in HOA's filing liens and foreclosing on same, especially in McMansion areas. Appears they are getting agressive since the banks have been slow to foreclose.

Examining the liens and LP's the same pattern emerges where the market value of the tract home McMansion is significantly under the purchase price. This trend will only excelerate in 2011 as more teaser rate and interest only loans reset and interest only become fully amortizing.

2500 sq ft Max.