Bear, I saw that one in Chelsea Estates come up today, there are bunch of repos in there and the tract has some drawbacks but it is above average. There some priced lower but that is the lowest priced three story (what a cleaning nightmare, two sets of stairs inside and three floors each, one in the front of the house and one in the back, four total flights, enjoy recarpeting and vaccuuming that). I don’t think the rear yard died, I don’t think they ever put one in (built almost five years ago). My point earlier is that the 3-4k sq fters are coming up with low ppsft. but the 2500 sq ft ones are holding above $150 and I doubt they fall below 200k, I’d love it but I doubt it for the better areas. Here is an example of one of the lowest price I’ve seen in one of the nicest tracts in a prime location(rancho madera),
It doesn’t say but it may be a short, they also chose to kill the garage that is a straight shot from the street in exchange for another room and only have the sideways two car left. It looks recessed so you will never get a single car in there without parking diagonally.
For the most part the repos are 350-425 for 2500-3000 sq ft like this one
$100 a sq is all I ask for in the right neigborhood in the 2000-2800 size range, if it gets to $75 I guess I will miss it because I will have already bought. There is one more thing as I read the news about B of A buying countrywide and stating they will no longer lend to anyone subprime and may end a lot of the alt a. I can’t help but think that if the enonomy tanks hard, layoffs, $4 gas and lenders not loaning money to anyone except those who are top tier, you may be right and $75 may come sooner than we think if the rest of the economy scoots it along.
