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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (56138)	6/15/2006 12:22:08 PM
From: GraceZ	Respond to of 306849

Some have, especially ones that can be somewhat salvaged by their proximity to nicer neighborhoods. Others are what are euphemistically called "stable" neighborhoods. You can't get a loan or insurance so the only buying is cash buying. If you try to put in new systems and up grades they get put in by day and torn out by night (sometimes by the same guys you hired to do the work during the day). There are whole neighborhoods where they should just knock down the houses and start over because the cost to renovate is higher than the value when you are finished. The city has been losing population for thirty years now. They're in a little of a Renaissance now with RE coming back so strong but it is not unusual to go three blocks from a renewed section into a section with entire blocks with bricked up windows and doors.