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: koan who wrote (282910)	10/13/2010 12:34:26 AM
From: John Vosilla	Read Replies (1) \| Respond to of 306849

Yet novices think they are getting a deal because they get a home in poor condition for $10k under market.... part of what drives folks to these short sales and REO's. A couple of years abandoned in a harsh climate and the repair bill really skyrockets. I am amazed any of these deals close considering who you are dealing with on the bank's side....

To: koan who wrote (282910)	10/13/2010 10:31:30 AM
From: renovator	Read Replies (1) \| Respond to of 306849

They do know what happens to vacant buildings--that is why all the foreclosures have forced place insurance on them in the amount of the mortgage. My office has adjusted hundreds of claims for Theft-Vandalism-Water Damage at such in the NYC-tri-state area over the last couple of years. The shame of it is what perfectly good housing has been destroyed during this period. BTW--after a slowdown for many months, there has been a big increase in pipe thefts-often including the radiators! As many know, the scrap value for cast iron barely makes it worth hauling out of these, but it has been happening much more frequently lately.