[quote=sdrealtor][quote=CA renter]There are a number of homes being sold to bulk buyers/investors. In many cases, they are getting them for 15-20% of what is owed on them.
It is totally unethical, but apparently, it is legal. FWIW, taxpayers are backing a large portion of these losses, but we’ll never hear about it in the MSM. Sickening…
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Thanks for threadjacking with a totally irrelevant post. That has nothing to do with these as they were non-mls sales to individuals. Most likely related parties. Both of the higher 2011 sales were ALL CASH sales. CAR time take the tin foil hat off.[/quote]
You are correct, my mistake. I didn’t look at the linked sales.
Been going back and forth with some other people about other deals where the homes appear to be sold on the courthouse steps (sometimes, you don’t even see that), then you see a VERY low off-market sale, then it suddenly comes back on the market at “market” prices. Those appear to be the bulk sales, and I’ve heard that the very low prices shown in public records often don’t tell the whole truth: they are often bought for even lower prices, but the “investors” don’t want anyone to know their purchase price, so they report a higher sales price that is still far, far lower than any comparable sales.
My apologies for not checking the details before commenting.
