Friday and Foreclosure Tips for the Bottom Feeders

The banks seem to be having a problem evaluating their real estate holdings.  They packaged many properties together and it’s so complicated for the smart guys to figure out.  Well, it’s not too hard when you take a single property and run the comps (market value) and take a look at tax records (assessed value) and go 30% to 50% below that.  That’s what you should be buying a foreclosure for in a normal market but since it’s not normal, the foreclosure tip today is to find out if a property is priced appropriately against the value of other homes.  If the foreclosure is priced normal retail – think twice about submitting a low ball offer – you’ll be wasting your time until the lenders price properties what there really worth – I guess when smart people lose money they go dumb too.  Dallas Foreclosure link is updated above and includes zip codes: 75205,75225,75230, 75229,75209,75201 and 75204 which are – Park Cities & Vicinities, North Dallas, Intown & Uptown.  Banks are trying to sell real estate but not doing a very good job…