I may have spoken too soon, new listing today, bank repo for a plan C listed at 221K, It does say 2 bedroom, I thought all the plan C’s were 3 bedrooms so there must be a den or something. The 2003 price was 250K so we are sub 2003 and approaching it’s original 2002 price which was probably close to 200k
It is starting to look inviting based on the rent multiplier, They will probably take 200k and in 6 months if it hits 150k the rent multiplier would be 100x. That is the absolute floor IMHO, so today’s buyer of this at 200k is fairly safe, I don’t see this one lasting very long, it is truly 20-30% below the other that are languishing.
