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Hey real estate moguls - what’s going on in the housing market?


tbone_

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2 minutes ago, Bookman said:

New file this morning. Looks to be almost $180,000 in equity based on the foreclosure price, but the trustee is saying no excess proceeds. 

And banks just want to recover their money, right?

Exactly.  Banks exist to make money.  They will squeeze this market for everything it has, same as any other investor.  Are these straight up CH7/13's, or DIL's or forbearance cases?

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4 hours ago, Bookman said:

New file this morning. Looks to be almost $180,000 in equity based on the foreclosure price, but the trustee is saying no excess proceeds. 

And banks just want to recover their money, right?

That should be a crime. Yet for some strange reason it is not. Wonder why. 

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Obviously a flipper.  1/3 the houses sold in my area are relisted within months after buyer does some work.

Same here. Just haven’t seen that kind of appreciation that quick. Though I pulled up the August listing photos and I don’t think they did any work.

And despite the jokes, this isn’t River Oaks or Highland Park, or even our version Paradise Valley (where Coach Bro’s house is). I mean it’s a nice neighborhood but this was a $700k house 3-4 years ago. One thing that is nice is that in AZ our taxes are only about half a basis point, and valuations lag the market.

But even as a homeowner I worry about where this ends.
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