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Foreclosure in my neighborhood

Great for resale value!!  LOL

The house is half the size of ours, but still, 2 years ago it sold for $124K, it is now in foreclosure since that person bought it and is being sold for $83K

Ugh!!!

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Re: Foreclosure in my neighborhood

  • we're surrounded by foreclosures, luckily they tend to sell pretty quickly
  • Don't you hate that? I told my mom she needs to get a realtor in to price gmas house and let us know what needs to be done before its time to list.
  • Yeah, there are a ton around our neighborhood lately...  aren't you in S. Toledo, Jill?
  • No, she is in sylvania.
  • I have a family member up there who got tired of their house and decided to just leave it to the bank and now they're renting out in Delta.  I was beyond mad at them.  It's so irresponsible and they only owed like $35k on it.
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  • Foreclosure sales won't count toward your appraisal/value, so don't worry about that part. :)

    We've also had a lot of foreclosures in our area (like Rock mentioned).  The most shocking was the house that's 4 doors down from us.  It was up for quite a while with a realtor, and no bites.  So they put it up for absolute auction, and it sold for $26,950!!!!!!  Indifferent

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  • Ugh I know - there is a house on the next block from me that sold for $82K. DH wanted to purchase it as a rental property but I didn't think it was a good idea for us. Do we really need 2 mortgages right now? When it sold for so low, DH was a little pissed.

    The house next to that one was also for sale and we looked at it. The for sale sign has been gone for a few months now - it's part of an estate, and I think the kids are holding out to foreclose and get the most money out of it. Great for my neighborhood!
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