November 24, 2009

Under Water Mortgages & Strategic Defaults

Future Foreclosures? 1 in 4 Borrowers Under Water –Headline, The Wall Street Journal (11/24/09) In truth, this isn’t just a headline in today’s Journal; it’s THE headline. As the accompanying story spells out, even the startling, 1-in-4 statistic understates things: in Nevada, Arizona, and Florida, the corresponding percentages are 65%, 48%, and 45%, respectively. As...
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Holiday Reading List — Real Estate Version

Reading — and Skip — List Real estate books cover a lot of ground (pun intended). At one end of the pendulum are the various “how to” books: how to invest, how to fix up properties, how to get into the business and prosper. At the other end of the pendulum are the more purely...
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Sign of the times: empty lot

Where: 7508 West Lake St. in St. Louis Park What: .24 acre lot How much: sold for $75k When: deal closed just after Labor Day Who: listing agent – Ross Kaplan; broker – Edina Realty So what’s the big deal about an empty lot in St. Louis Park? It’s not just a lot — it’s...
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