With all the "flip this house" type shows on cable, there's no wonder it would happen.
There's a lot of speculation in the housing market and I would expect that a lot of foreclosures are going to happen with people living on the edge. Some nitwit across the street bought an old, broken down house for 300k. the house must have been about 1200 square feet. He tore it down. Now he's building a 2600 Square foot house on the same lot. It looks ridiculous compared to the other houses on the street. So now it probably cost him a minimum of $100 a square foot to put up the new house. So now he's in 300,000 for the old house 10,000 to tear the old house down 260,000 to build the new house. He's in 570,000 + any loan interest. He's asking for 660,000. Who's going to buy a 660,000 house when the houses around it are worth 300,000? This guy is going to take a loss on it, if he can sell it at all. > There are already record number of foreclosures in > many states. > > David L. Crooks > > > _______________________________________________ > Post Messages to: [email protected] > Subscription Maintenance: > http://leafe.com/mailman/listinfo/profox > OT-free version of this list: > http://leafe.com/mailman/listinfo/profoxtech > ** All postings, unless explicitly stated otherwise, > are the opinions of the author, and do not > constitute legal or medical advice. This statement > is added to the messages for those lawyers who are > too stupid to see the obvious. > _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
