In the wake of the housing meltdown, strategic defaults, or walkaways, continue to be a popular way to dispose of a home whose value has dropped significantly below the mortgage balance. Those using this option can usually afford their house note, but choose to move on to housing that offers more value for their money.Sites […]
So you want to buy a Short Sale?
Second only to Foreclosures, Short Sales create a lot of buzz among investors and home buyers looking for the almighty good deal.Â A short sale is a property that is sold for less than is owed on it.Â Pretty simple concept:Â you bought a house for $200,000 in 2004, with 10% down.Â Over the years […]
In the aftermath of the housing bubble
From Peter Goodman at the NY Times: Real Estate in Cape Coral, Fla., Is Far From a Recovery (ht Calculated Risk) This is not the most uplifting article.Â Goodman joins a Foreclosure TourÂ and reports on the facets of the clean up of the messy real estate bubble burst. [stextbox id=”grey”]The Story lost its magic […]