Couch Potato
Elite Member
- Joined
- Mar 15, 2004
- Professional Status
- Certified Residential Appraiser
- State
- North Carolina
Here is one Condo Converter who agrees a bubble has popped. He almost made it out of the country.
Sorry, Roger. I must have mis-read your post. That's not a bad idea. We do something similar, but not very formally.rogerwatland said:Aren't you supposed to use sales in the sales comparison approach? I'm talking about whole units of new construction, where the offering price is known. Add an attempted measurement of depreciation to adjust difference between subject & new construction alternative & apply a discount for asking price vs selling price, if the market shows the new alternatives sell for 95% of list plus the new car in the garage, for example.
http://www.latimes.com/classified/r...0,4110776.story?page=1&coll=la-home-headlinesThe number of Californians who are significantly behind on their mortgage payments and at risk of losing their homes to foreclosure more than doubled in the three months ended Sept. 30, providing the latest evidence of trouble in the housing market, figures released Wednesday show.
Lenders sent out 26,705 default notices — the first step toward a foreclosure — during the July-to-September period, up from 12,606 during the same quarter in 2005, according to DataQuick Information Systems
It certainly is when it comes to real estate development. When they go belly-up they’re accountable to no one in most instances. I was talking to a HVAC contractor who is Scottish and moved here a few years ago. He said one of the most shocking things in the US is how contractors can screw their subcontractors, file bankruptcy, keep most of their assets and start all over again with a clean slate.Terrel L. Shields said:Bankruptcy is a hoax and a joke and I have decided the Bankruptcy judges are about as crooked as the people filing this type action.