So our neighbors' house that went into foreclosure sold at auction--For $125k, much less than the $170k they owed on it. The low sales price at least makes me hopeful that someone will see an opportunity to fix and flip the house, since it will give them plenty of margin to invest in renovations, which it will need many of.
A guy came by today and winterized the place, so it doesn't look like they're going to be diving into any renovations any time soon, however. Guess we'll have to wait until spring to see what happens next.
2 comments:
Frankly, I'd prefer that they "fix and live". This sort of investment is one that only the people investing the time, energy, and money will ever truly appreciate.
Great point Nightshade. In reading your post, I'm ashamed to admit I don't even consider that an option as it happens so infrequently anymore. You're right, however, to have someone move in that wants to improve that home would be ideal. Thanks for reading and for all your candid comments.
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