[quote=spdrun]I’m not sure if we’re in the $200k range for those condos. Note that this unit is NOT selling at $237k or anything close to it.[/quote]
We are… Some of them that has closed in the $200k range. This one, again, is a POS and probably overpriced… Even if not, like I said. Most of these are investors held (probably). So if they were bought recently, they were purchased most likely with cash. Because owner occupancy in these areas most likely were <50% making traditional financing for investors not an option. Unless you were folks that cashed out refinanced another rental properties that were more owner occupied elsewhere to pay for ones here....
You can count on the banks to relax lending standards again. Because banks make more money off of subprime borrowers than they do off of me. And when they do that, that plays much more at the low end versus the high(er) end, imho.
