anyone live on the block with bunch of foreclosed houses?

[pico]

did the banks rent any of them out to shoot porno or drug dealers?

saw a CSI show on this, seems like a cheap way to set a meth lab or a porno studio.

[Mr KLC]

We had a few in our neighborhood, but they are no longer vacant.

[Chi_archie]

yes and no. the drug addicts, dealers, gangs, and prostitutes just take over the empty houses. No one is coming to check them out here, some get burned in arson

[daggerkobe]

There is one home. Gorgeous custom built home that was on the market for nearly $1M.

It would have sold too but just as they finished building it the market tanked. Its been sitting there for over 2 years, unoccupied.

Dad who is a real estate investor says it may sell for as low as $250k at auction.

Bush fukkkked everyone with his stupidity.

[Bootylicious]

Banks wont do anything with the homes

[smitch124]

There are so many around here, it looks post-apocalyptic. Everything is just empty though.

[MartinBlank]

Depends on the value of the property and the bank. Banks are reluctant to get into the rental business.

In my development, we have 2 homes that were foreclosed on. The Banks are simply holding them as an uncollected asset---with a eye toward the housing market recovering some and then selling it. They are asking roughly 90% of what the home cost to be built.

Now, if you head off to a more urban locale. I am certain banks are trying to unload whatever they can for whatever cash they can find.

[Boner_18]

There is one home. Gorgeous custom built home that was on the market for nearly $1M.

It would have sold too but just as they finished building it the market tanked. Its been sitting there for over 2 years, unoccupied.

Dad who is a real estate investor says it may sell for as low as $250k at auction.

Bush fukkkked everyone with his stupidity.

[pavyracer]

Pico..If you saw it on TV on CSI it must be true. You know how Hollywood loves to show reality.