FLU, don’t underestimate the difficulty of getting mortgages now. From what I am reading, the only ones who are being offered credit are the ones who don’t need it! If you are less than golden in any way, forget it. Obviously, there aren’t too many such buyers now wanting to buy a home.
Shows the home is likely 3676 Landfair Ct. Sold in 1988 for $275K. If they are being foreclosed for under $400K, they are obviously being hung by the HELOC noose. Zillow prices it as $800K. I wouldn’t be shocked if it did not attract buyers at $400K due to mortgage crisis. (This is how RE market will look like when Fannie & Freddie fail)
