“In December 2004, there were about 12 foreclosures a week in Riverside and San Bernardino counties. In December 2006, there were 123.”
“The carpets are stained, the living room wall has a hole punched in it, and the bedroom doors are missing.”
“A little paint, a little plaster and it will go for $500,000.”
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The POS didn’t sell (remain sold, I should say) the first time at $500K. Now it is torn up, foreclosed, and the market is trashed. But a little paint and plaster and THIS time it will sell for $500K.
Hahaha! Really! Ok, smart guy, YOU pay $500K for it then. Yeah, I didn’t think so!
