Through in normal 30 year mortgage rates of 8%-10% which are sure to return at some point over the next few years and you have another 30% to cut off. You buy houses for cash when rates are high and you sell them when rates are low. John
squatters been doing this for years. i know a guy who lived in a mansion for 2 years paid the utilities only.....even held events there.... nothing new. http://www.squatspace.com/handbook/index.php
The seller took a 45% loss in less than 2 years in San Francisco? The desert homes of Las Vegas haven't fallen that fast. What's the deal?
yea but in most areas home values are actually rising and or flat because of scarcity of land and urban migration. Densely populated areas such as the Bay Area, Manhattan, Aspen, have not been hit by the housing crunch because there is huge demand and a shortage of room.
The mortgages were owned by a bk'd mortgage company and group of investors on the east coast bought up their entire portfolio of several hundred homes. This home had a first for 950K and a second for 225K. I came in with no broker offered REO broker an extra half point to rep me. Also got 25K back to remove contigencies. That's the deal. Believe it or not.