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Old 06-12-2007, 02:54 PM
 
3,852 posts, read 12,830,412 times
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Homes appraised at 310k sold for 145k at auction. That is a 50% difference! Just goes to show how much your appraisal means! The other home owners who bought in the area were pissed off, just watch, this is good stuff!

WINK-TV - Local & Florida - Video - Townhomes a steal in Fort Myers
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Old 06-12-2007, 04:04 PM
 
5,339 posts, read 14,074,848 times
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Do they think they are the only ones in the U.S. who have lost value on their properties or what?? There are no gurantees in the market and things can change in a flash. People pay what they think a given property is worth on a given day.

Sounds like some great deals for the new buyers. Why did the media only interview one side? Do the current owners think the builder is making out on this? Take your medicine and move on!
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Old 06-13-2007, 09:33 AM
 
37,315 posts, read 59,496,953 times
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just goes to show how much profit is in one of those houses--bet they did not sell at that much of a loss...owner should hope the buyers are people life firefighters and policmen who will probably be there long term and take care of property--not someone buying as investment/rental property...
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Old 06-13-2007, 11:54 AM
 
5,339 posts, read 14,074,848 times
Reputation: 4694
Quote:
Originally Posted by loves2read View Post
just goes to show how much profit is in one of those houses--bet they did not sell at that much of a loss...
The report stated that 20 of the 50 properties had no reserve set. Whatever the top bid was, it was accepted. These could have been substantial losses to the builder. We have no basis to determine how much profit is built in/how much of a loss was taken.
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