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Friday and Million Dollar Foreclosures


Well, Happy Friday and the biggest bail out ever….

The WSJ had an article today called the finest foreclosures
and that would be foreclosures over a cool million.
There are 5 so far that come up in 75205,75225 and 75230.
Take a peek…(foreclosure link, upper right sidebar)

Another opportunity are builders properties that are not in foreclosure
or could be in the steps,  there are many speculator – flipper, builders
that took risk and they need to sell.  For example – on the MLS I ran
a search for builder properties over 1 million in Park Cities and Preston
Hollow, can you guess how many came up? 153 over 1 million…
in some situations I would say take 100K, 200K or 300K or more off
in some cases.  The article in the WSJ supports this trend.
Watch for more deals.

Of course each situation is different but expect more negotiating
power due to the turmoil this week – builders, investors, speculators
and flippers can’t hang on forever…

In light of all the excitement this week, what does all the financial mess
mean for real estate? In layman terms this article:
Wall Street and the Real Estate Markets
by the xbroker is a good read.

 

About Terry W. Smith

Passionate about real estate, positive problem solver, specialty boutique real estate brokerage that does things your way! A full-time Broker & REALTOR®, helping people buy and sell homes in the Dallas - Plano area. Whether you're a buyer just starting out or someone with luxury properties to sell. I have extensive knowledge and experience to help you with your real estate transaction. I am a native Dallasite & know stuff, ask me...

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