Bank Owned Homes Offering Ever Deeper Discounts
I’ve been saying it and I’ll keep saying it. The best deals in today’s market are REO or bank owned properties. Witness this story:
Back story: Earlier this week I blogged about a foreclosed house that had been reduced 57% in price from its peak sales price to its current asking price. In response, commenter “E” [...]
Bank Owned (REO) Mutifamily Prices Dive Deeper
It wasn’t but two years ago I was selling multifamilies in Everett for nearly $500,000 (high $400s anyway, sometimes less - like this one on the left) this price made no sense whatsoever for the buyer except that everyone was banking on appreciation.
Now we’re 2 years later and the property pictured on the left, [...]
Foreclosures Continue to Push Down Home Prices
MASSACHUSETTS FORECLOSURES:The Warren Group today reported another drop in home prices and attributes much of the fall to foreclosures. While foreclosures provide some of the best buying opportunities the market has sen in years, the vast numbers of them are weighing on the overall market. The Warren Group reported:
The median price of single-family homes in [...]
Moving Into a Foreclosure
Today I began the process of making a move on a condo that is going into foreclosure. The market value of the property is about $295,000. I am going to try to buy it for $200,000 or less. I’m at a very early stage in the process. I’ll document the whole thing right here. Stay [...]
