Radical cheap: $1,000 homes

WoW!
Thanx for posting that, Cybergal!
There's hope for me YeT!
My real estate agent and I were discussing the same
thing yesterday.

She said it will get worse, or better, depending on which
side of the fence one is on.
She told me that right now, the banks still have a bit of
a co cky attitude, but that attitude will be changing
BiG time within the next 12 to 18 months, with homes
being practically given away as the banks try to unload
dept and financial responsibility.
She also mentioned that many homes are being bulldozed
rather than trying to sell them.

And out here in California, many unoccupied homes are becoming
the homes for illegal aliens, as the number of unoccupied homes
become too numerous to continually check on.
And those homes are being destroyed by those illegally
occupying them, --- further devaluing them.

And some lenders who have foreclosed on homes are willing
to rent them for as little as $450 a month, just to assure they'll
be kept up.
Considering that those same homes rented for around $2,000 ---> $3,000 a month just a few months ago,
I'd say that's a bargain, and hope for those displaced due to
foreclosures as they wait out the storm and home purchase
prices continue to go down.

 

I was watching a show in TV the other week
About all those beach and I guess you would call them bluff houses
Some that were selling for almost 3 million a couple years ago now are worth less than half
Its amazing