Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Bank Holding Company who wrote (189795)	3/10/2009 12:01:32 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 306849

What are they going to do with it then? Keep it priced ridiculous forever?

To: Bank Holding Company who wrote (189795)	3/10/2009 12:10:48 PM
From: Drygulch Dan	Read Replies (1) \| Respond to of 306849

Somebody is writing stuff down now. I've been watching a house for the last 1.5 years. It was originally asking $859K. The PO started lowering her price eventually reaching short sale pricing. Then a foreclosure occurred. Then the bank started listing it at ever lower prices, eventually they brought the listing down to $515K which was their cost. Its now in escrow. Will find out its closed price in a few weeks assuming the escrow succeeds. The bank is listed as Bank of New York/Countrywide Mortgage so I guess that means BOFA now. So a floor was reached in this one particular property, a data point in this great real estate bust.