2113 sq ft banked owned property with 4 bedrooms and 2.5 baths built in 2006? $79,000

http://sellingpoincianaproperties.com/post/906996/2008-Market-Report-for-Poinciana-Florida

What can you buy in Poinciana Florida for $79,900 today?

Cheap florida foreclosures 407-873-2747



How about this 2113 sq ft banked owned property with 4 bedrooms and 2.5 baths built in 2006?



Cheap florida foreclosure 407-873-2747



Or this 2093 sq ft REO with 4 bedrooms and 2 baths built in 2003?

Somebody with money could make a bundle on those. I hope the former owners of the place are alright. :(

The insiders get their money out early and after the crash, buy up assets. That is how the E.pire State Building was built.

One of the perpetrators of the 1934 attempted coup, John Roskob, made over 100 Million in 1929 dollars as a result of the crash. He took his profits and built the Empire State Building on the cheap and started a 'foundation' with much of the rest.

Depend upon it.

A lot lower.

Republiconomic Shock & Awe is crapping on America.

The real estate market needs to reequilibrate at a level consistent with prevailing wages.

Beware people who pursue unclean professions, like dealing in foreclosed houses. Shun them.

I was helping my dearest friend look for a home recently after she decided to downsize. She asked her realtor if a foreclosure might be a good deal for her and the realtor told her to stay away from them.

Recently, I've been researching mortgage & foreclosure issues and came to realize that Wall Street has created clouded Titles across the country.

All that slicing, dicing, buying & selling on Wall Street of securitized loans, resulted in assigned Titles that improperly and illegally transferred. Many foreclosures were improperly and illegally conducted. As homeowners come to realize they were swindled out of their homes, they are coming back to sue for wrongful foreclosure. They may be entitled to the home or compensation.

I'm having an audit done of my own mortgage because it doesn't make sense to me to make all my mortgage payments and then not get clear Title to my property.

I saw Capitalism - A Love Story this past weekend and I realize that there should be a sequel. Wall Street turned the real estate market into a total scam from beginning to end. I had no idea there so many ways to steal in a transaction.

houses are okay to own but you cant just leave it be unti lyou want to use it, you need to maintain it etc etc, land now thats good even if all it is is scrub, because you never know when scrub might become valuable..

no, thanks.

no freakin way.

foreclosure, you buy it as-is. Be careful.

its going to be interesting to see the long term effects of the housing collapse when we look back in about 20 years...

redoing it and have spent about $12,000 so far. It still needs a new roof (might hold on for another year or two), new landscaping, and new heating/cooling (want to do this fall).

I estimate it might end up worth about $100,000.

$16,000/taxes. Add that to your $400/month house payment=$2,100/month house payment.

And any valuation can be appealed, and successfully, based on market changes.

I'm in NYS, one of the higher property tax areas and pay about $6K on a $300K house.

for my 2100 sq ft, 4 bedroom, 3 bath.

The average joe who needs a mortgage is largely shut out of the foreclosure market.

If Average Joe can afford it by the old rules (10% down minimum, financed amount no more than 3X annual income, steady job), he'll have no problem getting a mortgage. I live in the San Joaquin Valley in California, one of the worst areas in the country for the crisis (more than 10% of our homes defaulted, and in some neighborhoods the foreclosure rate pushed 80%). The vast majority of the REO homes are today going to first time buyers who were priced out of the market in the past. Regular blue collar working people.

There ARE a lot of investors buying up homes right now, but in California, Florida, and some of the other worst hit areas, the sheer number of REO homes dwarfs the ability of the investors to buy them up. The investors, instead, largely reserve their purchases for the real gems...the uber-nice REO's with the greatest potential for profit.

with our luck, by the time he retires, we'll be too late for housing bargains.

I am really leaning to a nice double-wide .

Our goal is to have no monthly housing payment. with that gone, we can survive nicely on what we will get from SS , my small pension & savings.

drop further then it might be a decent investment...or so we hope, just closed on a property in SW Florida.

We'll see.

:shrug:

I wouldn't pay 80 grand for them when I could buy an older Florida home built as a single unit instead of as a slapped up half assed subdivision. There are plenty of older Florida homes with actual yards and trees that were NOT crappily built available right now.

It's a shame these houses were allowed to be built in the first place to screw over some poor saps who poured their hearts and souls and dreams and hard work into them only to get ripped off by ARM loans and over priced properties.

The best thing that could be done to these houses is to bull doze them and allow nature to reclaim the lots.

We really need to pass Florida Hometown Democracy next year so that there will be no more ghost town subdivisions like this. Perhaps only California is worse off.

And this bears it out. Almost all of Polk County's commissioners have a background in one field or the other.

An unenlightened electorate gives them the keys to the candy store every damn time.

spend weeks bulldozing every single tree on the lot into a giant pile, then they burn them off for days and weeks even. Once that's done they take the entire 500 acres and level it out to parking lot/runway flat and then they slap up >5 houses per acre up to 10 per acre and build houses right up next to each other with no privacy, no yards, no trees and no sense of uniqueness. A bunch of cookie cutter substandard houses built with cheap materials that are boxy and ugly.

These overly dense subdivisions then put a strain on local schools, police, fire departments and other services and destroy both the environment and any sense of natural beauty or local ambience.

A friend of mind has coined a term for this: She calls it living in Generica.

If it were up to me speculators would not be allowed to build houses like this. People would have to buy individual lots and contract individually with builders to build them and no builder could have more than a fixed percentage of homes in any one neighborhood. Right now the whole system is vertically integrated and has served to screw over Florida homeowners and destroy our standard of living.

We need to pass Florida Hometown Democracy in the worst way!

who have jobs or have the money to buy these places.