I’ve got no idea how a bank would value a tear down default. I’m sure you are on the right track. Anyone else have any input here?
As far as $200,000 price? No clue, but it is a corner lot on a nice street with good views (other than the large pine type trees the across the street neighbors don’t cut).
But it surely would need a lot of work. Perhaps the foundation they poured before starting the red steel art project is sufficient, and they might even have plans (plans for what? I don’t know). But I’d guess the lot price would be closer to double (or more) the $200k price. No clue really, that was a totally guess.
on another note…
time will tell when the “realtard/builder/seller” will lower their price on Madra $1.3m in MMM/MMB. I overheard the seller/builder/husband last week down at Madra Deli trying to sell the house to a guy that was just there to buy pizza.
