houses being sold for $1000

[Large Sarge]

http://networkedblogs.com/D6IUS?a=share

[mick silver]

on the news they told me every thing is better now , so go buy that 5000sq ft house now . i have seen homes here go for the tax money own on them with a few ac of land . never in my life have i seen so many auction signs going up on homes an land . to me this is just the start of whats to come . almost ever weekend i hit a auction there so many good deals out there . i look for tools and old furniture . i like to restore old oak stuff

[Neuro]

Does it come with Obama phone?

[Horn]

You'd think those would effect the overall median price?

Look's like they're up 10% this year...



US Existing Homes Median Sales Price is at a current level of 187.40K, down from 187.80K last month and up from 171.20K one year ago. This is a change of -0.21% from last month and 9.46% from one year ago.


http://ycharts.com/indicators/sales_price_of_existing_homes

[Sparky]

You'd think those would effect the overall median price?

Look's like they're up 10% this year...



http://ycharts.com/indicators/sales_price_of_existing_homes

That's why they use median price, so that outlier prices (like $1,000 or $5,000,000) don't skew the data.

[slowbell]

The opposite trend is happening here. Big investment groups are grabbing up homes and propping up a false market value. In some areas, individual folks can't even purchase a home, it gets bid up too high for them. Banks are also sitting on foreclosed homes, just watching the value go back up. Bunch of crooks.

[willie pete]

http://networkedblogs.com/D6IUS?a=share

sure, there are lots of low cost homes out there, BUT look where you'd have to live (or rent it out, BUT there again, look who your tenants would be)
For Example:
East Cleveland OH --- Black alone - 16,532 (92.7%) White alone - 796 (4.5%)

[Horn]

The opposite trend is happening here. Big investment groups are grabbing up homes and propping up a false market value. In some areas, individual folks can't even purchase a home, it gets bid up too high for them. Banks are also sitting on foreclosed homes, just watching the value go back up. Bunch of crooks.

Makes you wonder what trends these realtors see,

is it just that they are lemmings following each other round, or led by a Grande Realtor Piper of Oz?

[slowbell]

Makes you wonder what trends these realtors see,

is it just that they are lemmings following each other round, or led by a Grande Realtor Piper of Oz?

Indeed, to me it seems like another bubble forming. These big investment groups are throwing around a lot of cash. Cash transactions are quick and easy, and individuals trying to buy homes through financing are getting choked out.

[Horn]

Indeed, to me it seems like another bubble forming. These big investment groups are throwing around a lot of cash. Cash transactions are quick and easy, and individuals trying to buy homes through financing are getting choked out.

Make room for billions of Chinese looking for second homes possibly?

Btw: What's with all these "Indeeds" floating around this place?

Its like some Gailloian slip, or something. {--->)

[Cebu_4_2]

Auction homes are spooky, no inspection, must close fast and if the house isn't close you wont even have time to do a drive by. Most pictures are old, real old like when the house first was foreclosed on. We just bought one in TN for a bit more than 5K and I had to cough the whole thing up cash. Not easy when the banksters took all my equity in wrongful foreclosure but I did what I had to do. My people need a place to live. No clue if it has running water or heat either but this is the same house that sold 3 months ago for 5K less then. Only has 1/2 acre but surrounded by hundreds of acres of woods, very rural and colorless ;-] If nothing else I already have a hookup there that flips houses and I can change careers and get back on my feet.

PS the sales agreement is totally written to protect everyone except the buyer and they can cancel at any time without a reason. So say an agent goes and takes better pictures and comes back saying this thing is worth 150K they can cancel and your on the street. This auction game is a high tech industry right now where no one exchanges any cash except the buyer. Now you wonder why there are so many auctions?

[slowbell]

Only has 1/2 acre but surrounded by hundreds of acres of woods, very rural and colorless ;-] If nothing else I already have a hookup there that flips houses and I can change careers and get back on my feet.

Congratulations Cebu!

[Gaillo]

Make room for billions of Chinese looking for second homes possibly?

Btw: What's with all these "Indeeds" floating around this place?

Its like some Gailloian slip, or something. {--->)

Indeed! ;D

[Twisted Titan]

It wont be the chinese buying

The chins got millions of ghost cities and bridges to fricken nowhere.

There may be a few chinese syndicates picking up a few crown jewels and that will get some serious media air time but honestly that will not reprsent the big picture.

banks are sitting on oddles of shadow inventory and the squatter market is nothing short of astouding

[Neuro]

Makes you wonder what trends these realtors see,

is it just that they are lemmings following each other round, or led by a Grande Realtor Piper of Oz?
Would make sense in hyperinflation setting, buy now with borrowed money at very low interest rate, rent it out to all the people who have trashed their credit rating in the real estate bubble crash, now it covers the interest rate, a few years down the line, the house can be payed off with a few months rent. You'ld lose only in the unlikely event of major deflation. But Bernanke has guaranteed zero rate policy to at least 2015, so that doesn't seem probable. The biggest risk is that the tennants murder you, for raising the rent in pace with inflation!

[palani]

Would make sense in hyperinflation setting, buy now with borrowed money at very low interest rate, rent it out to all the people who have trashed their credit rating in the real estate bubble crash, now it covers the interest rate, a few years down the line, the house can be payed off with a few months rent.

I knew a gentleman in Kansas City who managed a number of these low cost homes. He found himself in court one day in an action attempting to recover rent from a tenant who refused to pay. For some reason or other the court found in favor of the tenant. The facts were he had several thousand invested in that particular home so had very low equity.

He asked the secretary of his lawyer while in the courtroom and while still in the venue if she had a quit claim deed form handy (boilerplate). She did so he filled it out and asked the judge if he could approach the bench. On the affirmative he went up and handed the quit claim to the judge. The judge looked at it and asked "what is this?" . He told the judge that he was not an attorney and if he needed legal advice he should seek counsel. The judge next looked at his lawyer and asked what had just happened. The lawyer told the judge that unless he missed his guess the owner had just signed the property over to the court.

Faced with another year of a non-paying tenant and a liberal court sometimes it is best to cut your losses and run rather than be aggravated and stressed out.

[Neuro]

Auction homes are spooky, no inspection, must close fast and if the house isn't close you wont even have time to do a drive by. Most pictures are old, real old like when the house first was foreclosed on. We just bought one in TN for a bit more than 5K and I had to cough the whole thing up cash. Not easy when the banksters took all my equity in wrongful foreclosure but I did what I had to do. My people need a place to live. No clue if it has running water or heat either but this is the same house that sold 3 months ago for 5K less then. Only has 1/2 acre but surrounded by hundreds of acres of woods, very rural and colorless ;-] If nothing else I already have a hookup there that flips houses and I can change careers and get back on my feet.

PS the sales agreement is totally written to protect everyone except the buyer and they can cancel at any time without a reason. So say an agent goes and takes better pictures and comes back saying this thing is worth 150K they can cancel and your on the street. This auction game is a high tech industry right now where no one exchanges any cash except the buyer. Now you wonder why there are so many auctions?
Good luck! Probably will need a lot of work. How big is the house?

[PatColo]

If you're Agenda-21-aware, and know the secrecy & deception the whole thing is being implemented behind, then you can only run not walk from property/land purchases. Activist Rosa Koire, commercial/forensic RE appraiser, woke up to A-21 when she found she couldn't properly valuate RE because there was no transparency re what an owner could DO with the property, and/or that question was a moving target. Not sure what TPTB's hoped for timetable is, but I continue to believe that ending the institution of private property everywhere is the ultimate goal.

Thread: Agenda 21 For Dummies (incl: abolition of private property) (http://gold-silver.us/forum/showthread.php?35061-Agenda-21-For-Dummies-%28incl-abolition-of-private-property%29)



Thread: Agenda 21 show on C2C tonight 9/29/2012 (http://gold-silver.us/forum/showthread.php?63955-Agenda-21-show-on-C2C-tonight-9-29-2012&p=577577&viewfull=1#post577577)

Thread: CBS 60 Minutes: Mortgages: Walking Away (http://gold-silver.us/forum/showthread.php?27547-CBS-60-Minutes-Mortgages-Walking-Away)

[palani]

I continue to believe that ending the institution of private property everywhere is the ultimate goal.


Private property is the holy grail of common law. It is common law that is the target and elimination of private property is the means to destroy it.

[LuckyStrike]

Not only would your tenants be africans, (which is bad enough) but these places are so damn liberal and corrupt they will side with the tenant every time. I know someone who owned a rental in Mass, apparently there you can't kick tenants out during winter, so these minorities would just stop paying rent at the beginning of winter and rinse and repeat somewhere different every year.

There are a reason these things are 1,000 dollars. Caveat emptor.

[jimswift]

would just stop paying rent at the beginning of winter and rinse and repeat somewhere different every year.

Ahhhh, professional tenants.

My grandparents had to deal with these all the time. They know all the appeals and tricks they can do to live rent free.

[steel_ag]

Ahhhh, professional tenants.

My grandparents had to deal with these all the time. They know all the appeals and tricks they can do to live rent free.

I hear a bang but don't see a flash. Where are the tricks listed?