Daily Archives: December 8, 2010

The reassessment

I haven’t seen many of the results, but this article on chopping the discount for homes along I-95 seems a little off (the loss of a discount, not the article itself). In my experience, such houses take longer to sell and do so for less. 35% less? Maybe not, but at a substantial discount, for sure.

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High-end foreclosures coming up

Two or three mansions are set to be sold by auction, one this Saturday, another in mid-January, and so on. Time’s run out for these owners. I’m estimating $3 million up to $6, down considerably from original asking prices in $7s, $9s$12s and up.

So where are they? Well hell, I need to make a living here, and bank foreclosures don’t pay a commission or any fee at all. You can certainly look them up yourself and attend these auctions, but I think I can offer enough advice and knowledge to justify your paying me a representation fee. Feel free to call or write if you’re interested.

UPDATE: under the comment, “That was quick!) a reader points out that Saturday’s auction has been cancelled.  Debtor’s motion to reopen was granted Monday but just posted on the on-line docket today, just minutes after I’d checked the docket. It’ll probably be back; these things usually are.

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Real estate activity this week

116 Birch Lane sold for $3 million. Sold for $4.250 back in 2007. Ow.

We have six houses gone to contract, with asking prices from $3.495 (23 Bedford) to $599 (Sinoway). 23 Bedford originally asked $5.495 some time ago, but when the owner’s in jail, I guess it hurts the price.

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