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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (8471)	9/6/2001 9:59:24 AM
From: James F. Hopkins	Read Replies (1) of 19219

Ya; But I hate this flushout when over half of my holdings are already under water, the question today is do I add or just ride it out. If we get a whiplash back up late in the day it won't help me much to add to the funds. I'll just likely ride her as I have other things I want to do The county I live in has a bunch of real estate going up on the auction block "Sheriffs Sale" for back taxes. The county must be in a money crunch and is cracking the whip a lot harder than usual. I suspect "pension fund losses". Any way some of the sale stuff looks good, but it takes a lot of leg work to research it as the way they list it is in the cryptic form of abstract numbers so if you don't go to the court house and dig through the Deed records you don't know where it's at, ( no physical address is given ) it's odd they do it that way as it just about shuts out the average person, and I know they want to sell it. Out of 30 listings Tuesday they only got 3 bids. I bought one ( taht I knew because I had sold it 25 yrs ago ) 25 ys ago I sold it for 6850, & bought it back Tue for 5K But I never had the time to look up the others, just the size of them to the price told me they were going cheap, but with so many to pick from I need to see them on foot to make any kind of reasonable picks between them. Lots of stuff going for less than 1k per acre; Some less than 500. ----------------- Once these things go into default they not only don't get the back taxes , but they are effectively off the Tax rolls as the county now owns them , hence it shrinks the Tax base; often they sell them at below the owed Tax just to get them back on the Tax roll. ( don't do em a lot of good if they sell to me as I tear down the old houses ; plant veg and roll it into a farm exemption. ) I only bid stuff where the land is worth more with out the old houses on it. Other wise Taxes would eat me up. -------------------- While it's not in the News much what I'm seeing with the real estate down here is building up to a real recession. -------------- Jim

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