Kingman Housing Drops

[shariv]

Originally Posted by JustPassinThru

In the dark about the 3rd metropolitan area, unless it's Barstow..

It's actually Los Angeles, at least that is the one usually mentioned with LV and Phoenix. I know that it's 340 miles away, that that doesn't stop them.

Originally Posted by JustPassinThru

Some of my neighbors are excited about the Lowes going in, but that probably won't happen until about 2011. We'll be long gone by then.

I haven't heard about Lowes, but lot's of talk about Big Lots which opens may 4th. Also the new free standing Starbucks, I'm not sure when that is supposed to open. Doesn't take much to excite us here.

Also, FYI, the model in the Villas that was 364k has been in pre-foreclosure for the last few months.

[Trump]

Originally Posted by shariv

Also, FYI, the model in the Villas that was 364k has been in pre-foreclosure for the last few months.

I don't know what pre-foreclosure means but it doesn't sound good. Not something I would want to learn about a prospective development either.

[shariv]

Originally Posted by beeser

I don't know what pre-foreclosure means but it doesn't sound good. Not something I would want to learn about a prospective development either.

I'm not sure what makes them change to actual foreclosure, but they go into pre-foreclosure first when they get a notice of default on their mortgage. Pre-foreclosures also list an auction date, so I'm not sure of the difference. Maybe someone more knowledgeable can shed some light.

A foreclosure in the Villas is more a sign of the buyer than a sign of the development. That house was bought by an investor and they paid over 140k more than the other non upgraded homes in the development. There are only 3 models, the rest of the homes were considerably less money. That development does however have more investors than other areas.

There are lots of foreclosures right now in the Kingman area, most are houses bought since 2005 and most seem to have out of state owners. Lots of speculators got caught up in the frenzy and when the music stopped they had no new speculators to flip to. Locals cannot afford the newly double prices.