$400k properties…

I read it, I definitely thought, with all the foreclosures, that there should be something like this going on. Certainly I’ve seen it happen in the midwest.

The problem I see with their approach is that they really should try to get it at the bottom price, instead of assuming that California properties are priced appropriately at “$400k”. A streamlined condemnation method would work better and you could probably get properties in the $50k per unit.

The land banks in the midwest that they are getting advice from, they’re not paying $400k per unit, that’s for sure.

$400k properties…

I read it, I definitely thought, with all the foreclosures, that there should be something like this going on. Certainly I’ve seen it happen in the midwest.

The problem I see with their approach is that they really should try to get it at the bottom price, instead of assuming that California properties are priced appropriately at “$400k”. A streamlined condemnation method would work better and you could probably get properties in the $50k per unit.

The land banks in the midwest that they are getting advice from, they’re not paying $400k per unit, that’s for sure.

$400k properties…

I read it, I definitely thought, with all the foreclosures, that there should be something like this going on. Certainly I’ve seen it happen in the midwest.

The problem I see with their approach is that they really should try to get it at the bottom price, instead of assuming that California properties are priced appropriately at “$400k”. A streamlined condemnation method would work better and you could probably get properties in the $50k per unit.

The land banks in the midwest that they are getting advice from, they’re not paying $400k per unit, that’s for sure.

I like the quote from the longtime property owner:

“I am worried about property values.”

Something about this rubs me the wrong way. Dude probably has made a small fortune because he bought years ago and is concerned about any erosion of what he must consider his appreciation entitlement, most due to the bubble he’s probably never heard of.

I like the quote from the longtime property owner:

“I am worried about property values.”

Something about this rubs me the wrong way. Dude probably has made a small fortune because he bought years ago and is concerned about any erosion of what he must consider his appreciation entitlement, most due to the bubble he’s probably never heard of.

You have to love these types of quotes:

San Diego City Councilman Tony Young, co-chairman of the task force, said the full panel will “explore the concept and see if it makes sense for the city and the county.”

Foreclosed properties “are dirt cheap right now,” Young said. “You will probably never see another opportunity to buy properties at this level.”

Good Hunting,

Noob–but learning

You have to love these types of quotes:

San Diego City Councilman Tony Young, co-chairman of the task force, said the full panel will “explore the concept and see if it makes sense for the city and the county.”

Foreclosed properties “are dirt cheap right now,” Young said. “You will probably never see another opportunity to buy properties at this level.”

Good Hunting,

Noob–but learning