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  • July 21, 2011 at 7:09 AM #712671
    ocrenter
    Participant

    [quote=familyguy]Maybe I am just hoping it isn’t true (from an owners standpoint) but I just can’t imagine the bank would accept 895k for that house.[/quote]

    I’m of the opinion that banks should get aggressive, take the loss now, get folks into houses at prices they can actually afford. This type of cleansing is actually much better for a neighborhood.

    July 21, 2011 at 7:48 AM #711494
    bearishgurl
    Participant

    [quote=ocrenter][quote=familyguy]Maybe I am just hoping it isn’t true (from an owners standpoint) but I just can’t imagine the bank would accept 895k for that house.[/quote]

    I’m of the opinion that banks should get aggressive, take the loss now, get folks into houses at prices they can actually afford. This type of cleansing is actually much better for a neighborhood.[/quote]

    I agree, ocrenter. The few properties around me that sold for lower prices as REOs in the last few years are now owned by people that have improved them substantially. This quick “churning” (foreclosure/new qualified buyer) lifts ALL boats in the neighborhood. I’m not concerned at all about lower sold comps (which reflected distress and condition upon sale). Those sold comps “disappear” after six months.

    July 21, 2011 at 7:48 AM #711590
    bearishgurl
    Participant

    [quote=ocrenter][quote=familyguy]Maybe I am just hoping it isn’t true (from an owners standpoint) but I just can’t imagine the bank would accept 895k for that house.[/quote]

    I’m of the opinion that banks should get aggressive, take the loss now, get folks into houses at prices they can actually afford. This type of cleansing is actually much better for a neighborhood.[/quote]

    I agree, ocrenter. The few properties around me that sold for lower prices as REOs in the last few years are now owned by people that have improved them substantially. This quick “churning” (foreclosure/new qualified buyer) lifts ALL boats in the neighborhood. I’m not concerned at all about lower sold comps (which reflected distress and condition upon sale). Those sold comps “disappear” after six months.

    July 21, 2011 at 7:48 AM #712189
    bearishgurl
    Participant

    [quote=ocrenter][quote=familyguy]Maybe I am just hoping it isn’t true (from an owners standpoint) but I just can’t imagine the bank would accept 895k for that house.[/quote]

    I’m of the opinion that banks should get aggressive, take the loss now, get folks into houses at prices they can actually afford. This type of cleansing is actually much better for a neighborhood.[/quote]

    I agree, ocrenter. The few properties around me that sold for lower prices as REOs in the last few years are now owned by people that have improved them substantially. This quick “churning” (foreclosure/new qualified buyer) lifts ALL boats in the neighborhood. I’m not concerned at all about lower sold comps (which reflected distress and condition upon sale). Those sold comps “disappear” after six months.

    July 21, 2011 at 7:48 AM #712340
    bearishgurl
    Participant

    [quote=ocrenter][quote=familyguy]Maybe I am just hoping it isn’t true (from an owners standpoint) but I just can’t imagine the bank would accept 895k for that house.[/quote]

    I’m of the opinion that banks should get aggressive, take the loss now, get folks into houses at prices they can actually afford. This type of cleansing is actually much better for a neighborhood.[/quote]

    I agree, ocrenter. The few properties around me that sold for lower prices as REOs in the last few years are now owned by people that have improved them substantially. This quick “churning” (foreclosure/new qualified buyer) lifts ALL boats in the neighborhood. I’m not concerned at all about lower sold comps (which reflected distress and condition upon sale). Those sold comps “disappear” after six months.

    July 21, 2011 at 7:48 AM #712701
    bearishgurl
    Participant

    [quote=ocrenter][quote=familyguy]Maybe I am just hoping it isn’t true (from an owners standpoint) but I just can’t imagine the bank would accept 895k for that house.[/quote]

    I’m of the opinion that banks should get aggressive, take the loss now, get folks into houses at prices they can actually afford. This type of cleansing is actually much better for a neighborhood.[/quote]

    I agree, ocrenter. The few properties around me that sold for lower prices as REOs in the last few years are now owned by people that have improved them substantially. This quick “churning” (foreclosure/new qualified buyer) lifts ALL boats in the neighborhood. I’m not concerned at all about lower sold comps (which reflected distress and condition upon sale). Those sold comps “disappear” after six months.

    July 21, 2011 at 8:21 AM #711503
    familyguy
    Participant

    ocr and bg…you both make very good points. I guess it’s simply the mental aspect of seeing homes that were once 1.5 now on the market for under 900k. I have heard the stories, but hitting so close to home is a bit of a shocker.

    July 21, 2011 at 8:21 AM #711600
    familyguy
    Participant

    ocr and bg…you both make very good points. I guess it’s simply the mental aspect of seeing homes that were once 1.5 now on the market for under 900k. I have heard the stories, but hitting so close to home is a bit of a shocker.

    July 21, 2011 at 8:21 AM #712199
    familyguy
    Participant

    ocr and bg…you both make very good points. I guess it’s simply the mental aspect of seeing homes that were once 1.5 now on the market for under 900k. I have heard the stories, but hitting so close to home is a bit of a shocker.

    July 21, 2011 at 8:21 AM #712350
    familyguy
    Participant

    ocr and bg…you both make very good points. I guess it’s simply the mental aspect of seeing homes that were once 1.5 now on the market for under 900k. I have heard the stories, but hitting so close to home is a bit of a shocker.

    July 21, 2011 at 8:21 AM #712711
    familyguy
    Participant

    ocr and bg…you both make very good points. I guess it’s simply the mental aspect of seeing homes that were once 1.5 now on the market for under 900k. I have heard the stories, but hitting so close to home is a bit of a shocker.

    July 21, 2011 at 6:59 PM #711724
    Anonymous
    Guest

    Extensive research has been conducted on the property value impacts of overhead high voltage power lines. Depending on how close a home is located to an overhead line, property devaluation can be up to 38% and more for larger luxury homes. Property devaluation on raw agricultural land can be up to 29%. See http://www.RETA.ca for list of studies.

    July 21, 2011 at 6:59 PM #711820
    Anonymous
    Guest

    Extensive research has been conducted on the property value impacts of overhead high voltage power lines. Depending on how close a home is located to an overhead line, property devaluation can be up to 38% and more for larger luxury homes. Property devaluation on raw agricultural land can be up to 29%. See http://www.RETA.ca for list of studies.

    July 21, 2011 at 6:59 PM #712418
    Anonymous
    Guest

    Extensive research has been conducted on the property value impacts of overhead high voltage power lines. Depending on how close a home is located to an overhead line, property devaluation can be up to 38% and more for larger luxury homes. Property devaluation on raw agricultural land can be up to 29%. See http://www.RETA.ca for list of studies.

    July 21, 2011 at 6:59 PM #712571
    Anonymous
    Guest

    Extensive research has been conducted on the property value impacts of overhead high voltage power lines. Depending on how close a home is located to an overhead line, property devaluation can be up to 38% and more for larger luxury homes. Property devaluation on raw agricultural land can be up to 29%. See http://www.RETA.ca for list of studies.

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