The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Pogeu Mahone who wrote (176507)	1/12/2009 12:25:09 PM
From: John Vosilla	Read Replies (5) of 306849

I actually got two properties that wiped out over 80% of $800k in total debt at auction.. Got a 1500sf third floor condo on the ocean for $113k..got a house in another county for $9k putting $15k into it and even at $69k will be the lowest 2 bedroom house in that zip code.. Worst hit are condos everywhere and the ground zero markets in SW Florida.. Newer 3/2/2 houses in Cape Coral now in the mid $30k range in MLS which is a price below what they were 20 years ago probably the steal in the entire country now for the retail buyer IMHO. The auctions have cracked now compared to even 4-5 months ago no doubt..finally we got that early 1990's feel back where cash is king and only a few pros are left in the gam...went to one auction on the west coast last week usually 100+ people in attendance going back 6 months ago or even 6 years ago fighting over 5-10 properties ..well last week by the end the auction of 40 properties the room just had 6 people in it..lol

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