Calculated Risk: REO Market Picking Up
All it took was a significant discount off the peak price… Located on a cul-de-sac, this home has granite counters, stainless steel appliances,and double ovens. Family room has built in wood cabinets. The property was purchased at the peak of the bubble in late 2006 using 100% financing (80/20) from First Franklin. Not too surprisingly, the property began the foreclosure process about a year later and eventually came back to the bank at auction in late April for $740,827.
Sources:
- www.southoctracker.com
- neufutur.com
- activerain.com
- straighttalkaboutmortgages.blogspot.com
- www.housepricesfall.com
- www.portlandrealestatecafe.com
Tags: amin, astronaut collins, auction, bogota boys, cosa nostra, cul de sac, double ovens, first franklin, foreclosure, granite counters, reo, stainless steel appliances, winter melon, wood cabinets