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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: John Vosilla who wrote (212332)7/24/2009 5:10:16 PM
From: Jim McMannisRead Replies (2) of 306849
 
RE:"I don't know who is hurting more today....the real estate investor who loaded up during the bubble"

You haven't heard? Speculators are more than happy to give them back to the bank as long as the banks don't attach their other assets. Banks are more than ready to take the overpriced crap back because someone is covering their behind...(I wonder who that is, don't be surprised if you hear about some big junk packages being sold back to fannie and freddie or some new agency they make up). People giving them back when they can easily make the payments but the gulf between what it's worth vs what they paid is so wide they just want to walk. In the past the banks wouldn't let you walk.

I'm constantly looking but the excuse is...in the areas I like the sellers are real proud and continue to delude themselves that prices have only dropped 15%. FL Keys for instance.
Then again, the way the USA is going, somewhere like Mexico may be the better choice. I know more than one person dropping out.

Trouble with PSL, North Port, Palm Bay, Cape Coral and the like is that while you may get a great deal you will probably have to sit on it for years and be lucky if it doesn't turn into crack town.
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