Jim TV Bottom-ish??

[bradbeckett]

What's up with the clean-room style tile?

[anthony800ful]

400,000 for this wow in my area a home exactly like this Is selling for around 250,000 and with a pool and better upgrades

[powerbookg]

Why the heck did he refinance for so much more?

[Geotpf]

Why not? It's free money-he paid off the first loan, had more than a hundred grand left over, then stopped paying the second mortgage. Net result-free rent for three years plus a big ol' pile of cash for the cost of nothing except a ruined credit score.

[TheCanadianPublic]

41 offers! Yikes!

How many of those are cash offers?

[semigotbanned]

it's really nice and $400-500K is quite affordable for the middle class

if both the price and the property is right, you'll always get many offers, I guess

[Geotpf]

$400k isn't affordable for "the middle class". Your payment (before taxes, HOA fees, and insurance) would be about $2,100 a month. Factoring in those, the payment would probably be about $3k. You should pay less than one third your income on your house. So, you would have to make $9,000 a month, or $108,000 a year for $400,000 to really be affordable. $108k a year is a lot more than what your typical "middle class" person makes.

[semigotbanned]

Ok, I assumed some  ($100-150K?) down payment... and a 20 year loan

and don't forget that we're talking about family income

[dko02]

This one actually looks good and livable compared to some of the prior bank REOs.

[bigcuy41]

Jim the Realtor you are a credit to the real estate trade!