Quote:
Originally Posted by IllTestYourGirls
Im watching the housing prices fall all around my area. Houses once going for 250-300 are now selling for around 85-100k. The towns/cities have not lowered any of the taxes. 
Im still waiting to buy. I dont think the bottom is here. Ill buy cash when I do so Im not worried about banks not issuing credit.
Sounds like you got a nice deal on your place. |
Yep. Very nice.
The house was being held by a re-lo company. I do not know if that made any difference in why I managed to get so much. But this house they were asking $150K early 2008 (which will is a realistic cap for this neighborhood), it was down to $120 by the time I bid on it in October. I picked it up for $85,000.00.
There was a house, before this one, I had put an offer in on and won. It was an 180,000.00 house across town. It had been on the market a year. I put in a bid for $75,000 and got it. It was bank owned.
However, I walked away at the last minute because they would not cover the taxes. Since it had been on the market so long, it was no longer homestead, and taxes were going to be like $7500 or something at closing.