A little update four months later, looks like everyone was right, especially esmith for calling out the specific addresses, all of which are listed in the mid 200’s.
It’s a little 100 or so home tract, currently 12 are listed and are a mix of REO and shorts ranging from 225k, no “normal” since the whole tract is close to 50% underwater since built two years ago.
This paradigm shift is moving so much faster than expected.
Only one listing in the tract is above 300k. Most are about 250k, some lower, some higher but definately all within range of a 216k offer and this is during the spring, what will winter bring?
I’ve completely talked myself out of this location and have shifted my sights a little higher but it’s nice to see how the market reacts and the popcorn theory in effect, first one popped at a great price, now they are so frequent I barely notice.
