More land on the block

Another large tract of land in a prominent South County location is headed toward foreclosure.

[Hummm]

"The lots are located at 434B Stockbridge Road, property on the west side of Stockbridge Road, and 11 Roger Road, and are valued at $746,400,$252,700 and $440,100, respectively."
They are actually only worth what you can sell them for!

[Peter]

They should say they use to be worth x dollars. Now 250 K you can have all 3 parcels.

[gladius]

Hummm wrote:

"The lots are located at 434B Stockbridge Road, property on the west side of Stockbridge Road, and 11 Roger Road, and are valued at $746,400,$252,700 and $440,100, respectively."
They are actually only worth what you can sell them for!

Roger roger, Hummm-er. And whoever gets into a bank for even half those amounts will be damned sorry two years from now when the bottom falls out of the market once again, the dollar is non-existent, and we find ourselves in a hyperinflationary period.

[poo boy]

gladius wrote:

<quoted text>
Roger roger, Hummm-er. And whoever gets into a bank for even half those amounts will be damned sorry two years from now when the bottom falls out of the market once again, the dollar is non-existent, and we find ourselves in a hyperinflationary period.

And the property on the west side of Stockbridge Road is useless, it's all flood plain and under water most of the time. What can anyone do with that?

[Adam Smith]

One man's opinion, but real estate in general has another down leg before there's a recovery. When these low interest rates finally do start to head up, the ability to finance is going to go down.