Posted by 101livescan on 3/2/13 8:58am
Msg #458897

REO Purchases and Short Sale Purchases

In one day, I had several REO purchases and Short Sale Purchases. One short sale purchase was all cash, $46K for a Las Vegas SF property. What a steal! Taxes are $26 a month. Too hot for me, but what a deal for people who love, love, love the heat. Things are moving in Nevada and Arizona! You can buy property there for what you pay for a car here on the west coast! Guess this is the next wave of real estate transactions on the heals of refis.

Something to ponder.

Reply by Shoshana/AZ on 3/2/13 9:15am
Msg #458900

Not so in AZ.

Unless you are looking to bulldoze the house and rebuild it! Those good deals are gone. However, the new builds are hot, hot, hot! Look for my previous post on what AZ builders are doing to boost sales. New build sales are up 23%.

Reply by 101livescan on 3/2/13 9:21am
Msg #458901

The AZ property was $225K not a luxury car, but a luxury yacht perhaps. Still a good deal when you compare to SB property prices, in Peoria.

Reply by Shoshana/AZ on 3/2/13 9:30am
Msg #458903

OK. From your point of view it's a steal. I have been to both places. I can tell you that there's no comparison between Peoria, AZ and SB. It's like comparing apples and oranges. Actually, $225K might be a little high for Peoria. A better comparison would be Scottsdale. We bought our house in Gilbert for $218k almost 2 1/2 years ago. It's now worth about $285-290K.