[quote=scaredycat]i dont know. seems like youd want a big big dsicount to buy a bunch of this crap. if the bank could sell it at x they would. so is x -.3x sucha great deal on a depreciating asset? frankly id want a heck of a lot bigger cushion than 30% to buy into this because maybe you wont be able to sell a bunch of em. it kinda speaks to the possible complete lack of value that they need to be sold in bulk in the first place…[/quote]
But they are often getting them for **70%** off (30 cents on the dollar).
Also, I do not believe for a second that they **have** to be sold off in bulk. That’s what they want us to believe. That’s why we’re being told it’s a “dead” market. As anyone who’s out on the street knows, this is NOT a dead market by any stretch. The activity out there now is comparable to the peak of the bubble, with many properties selling within a day or two with multiple offers.
An auction site, where only pre-qualified buyers can bid, would be the most transparent, most efficient, and offer the best returns. We are being kept out of the market because the greedy scum who brought on this debacle want to be the only ones to profit on the way down.
