It’s the lender owned stuff that has me confused. I looked at one over the weekend I was driving by that was having a repo open house, it sat for six months at 400k, didn’t sell, went back to the lender. Now that some appliances are missing, lender puts it up for sale at…………400k, genius. I am fairly certain it is CFC’s and they blame everyone else, including the fed for their woes (and stock price). Market rent is $1700 to $1900, new construction for the same sq ft in walking distance is 300 to 360 with 15-20 in incentives. I told the realtor that there aren’t any turnip farms in the area and I have never seen a turnip truck use that street let alone anyone falling off the back near this house, but good luck with that. When they asked what I thought it should be priced at I cited the above info and then said at 350, I would still laugh but I wouldn’t need any seizure medicine. At 300 it stood a chance and would be inline with the other ones I’m not buying yet but at least I would give my real name and only change one or two digits of my phone number.
