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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Broken_Clock who wrote (263127)7/22/2010 4:02:21 PM
From: tejekRead Replies (1) of 306849
 
The banks won't let a 300k note get discounted to some clown bidding 50k at auction.

They did in CA during the early/mid 90s. I bought a 40 unit bldg at auction. My top bid was $350K......they tood me into a back room and negotiated me up to $400K. In CA they move the junk......better to get it out of their hands and move on. Of course, CA is very familiar with these booms and busts.
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