What’s Wrong With This Picture? You don’t know who’s swimming naked until the tide runs out. –Warren Buffett So, what’s wrong with this Minnetonka home (pictured above)? That is, besides that fact that the front (and most important) photo on MLS looks like the home is stuck in a winter time warp, and it’s now...Read More
Underwater . . vs. Drowned According to The New York Times, “about $500 billion in mortgage debt is already underwater” (“Bailout Likely to Focus on Most Afflicted Homeowners“). That’s realtor-speak for a house being worth less than the mortgage against it. Unfortunately, based on my calculations, that number appears to be conservative. Using industry statistics,...Read More
