The owner was FORECLOSED? And for a home of such low value? His monthly payments must have been about $700-$800!
So if I understand this correctly, instead of making about $60K-$80K profit on a sale (minus the commission and fees) before the market crashed in 2007, he loses both his home and whatever equity he had on the sub-prime mortgage!
Just want to comment that it seems from the behavior of "investors" that we are still far from "capitulation" in the residential RE sector.
Real market bottoms for something like real estate look and feel very different; living through one now in Japan, and pretty much no one wants to buy anything despite yields being in the 7-11% for rental property.
april-2010....its worth 99k
needs a total overall inside and out
Jim, how about noting how close your homes are from the beach.
hemet92544 1 year ago
lol, we were one
RBDventures 2 years ago
lets see investors + real estate = secondary real estate bubble.
cb90006 2 years ago
Good luck on educating the public. Look at the ignornace used when people vote (see prop 8).
metta8888 2 years ago
The owner was FORECLOSED? And for a home of such low value? His monthly payments must have been about $700-$800!
So if I understand this correctly, instead of making about $60K-$80K profit on a sale (minus the commission and fees) before the market crashed in 2007, he loses both his home and whatever equity he had on the sub-prime mortgage!
Dumb, dumb, DUMB!
TheCanadianPublic 2 years ago 2
Thank you. Excellent video.
Have to agree with prior comments. Unbelievable the amount of speculation going on. Craptacular dump like that going for up to $135-$170k.
35 cash offers. Crazy.
tselliott 2 years ago 4
Hahaha sumptuous master suite, biodiscoloration, love love love your sardonic wit mixed with info :)
kahoenurse 2 years ago 2
35 offers have 135 cash LOL not a problem.
PogiBalut 2 years ago
Thanks as always Jim!
Just want to comment that it seems from the behavior of "investors" that we are still far from "capitulation" in the residential RE sector.
Real market bottoms for something like real estate look and feel very different; living through one now in Japan, and pretty much no one wants to buy anything despite yields being in the 7-11% for rental property.
Keep up the good work! Much appreciated :-)
saitamajoe 2 years ago 2
Interesting times. Sure seems like the RE speculation flame is burning bright in some people's minds
spoier 2 years ago 3