Thursday, March 4, 2010

Banks

Banks and HOA's:click

Down:click like mayhbe August??? when a bunch of recasts happen?



Home prices and revolving credit, good read:click

Plunger alert from 2500 max:"Ouch" is also a four letter word. Here is a bank owned tract home McMansion sporting a respectable 3500 sq feet that is 1 day new to the MLS with a major price reduction.

ON MLS: M1374008 asking $346K

Purchased: 3/2007 for $730K

http://www.bcpa.net/RecInfo.asp?URL_Folio=513936021800

This is a $384K (53%) loss.

How does a $346K asking price affect the adjacent.

Purchased: 8/2003 for $392K
Purchased: 2/2007 for $610K
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1 comment:

Anonymous said...

Here is a new 13 hours ago MLS listing for a tract home McMansion that sports a respectable 3900 sq ft with a major price reduction.

ON MLS: D1386205 asking $445K

Purchased: 3/2005 for $800K

http://www.bcpa.net/RecInfo.asp?URL_Folio=513936020970

That is a $355K (44%) loss.

Just more evidence that these tract home McMansions are not holding their value. In fact they are losing faster than any other segment. Possibly due to the operating costs are exceptionally high.

We may see more of these on the market as many recent articles discussing the delinquency rates for Jumbo mortgages are skyrocketing.

2500 sq ft Max.

March 4, 2010 at 6:12 AM

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