Thanks bear, I like them all except the Shea, and I agree that the deals will be on West side of Butterfield, but I like that side. I think the K hov’s are the nicest but they are also the biggest. On the newer side the repos are just starting, this one came up today at 425k down from 750k, its a 4000 sqft+ whopper but it is ones like these that lead me to believe the slightly older and smaller ones are doomed
DW, the appraisals on that one are closer to each other and all off by almost 200k. Those appraisal sites use recent data, unfortunatley they think the definition of “recent” is a year. They need to change their parameters to something akin to the shelf life of milk in order to get an accurate snapshot of of the meltdown. Houses like these have lost over 300k in 24 months, close to 10-15k a month, or $500 a day, get an appraisal done on Friday and by Monday it’s off by $1500. I love it when a realtor uses the phrase “recent appraisal,” I interrupt and ask “was the appraisal done in the morning or the afternoon, because if it was done this morning, it may not be recent enough.”
