Longshot?

by | Apr 5, 2011 | Market Conditions, REOs for sale | 14 comments

Another REO re-assignment came our way yesterday.

It’s a 2 br/2 ba, 1,108sf condo in the UTC area for $309,900.

The complex is in litigation, plus the market appears to be fairly competitive:

14 Comments

  1. tj & the bear
    tj & the bear on April 5, 2011 at 4:32 pm

    plus the market appears to be fairly competitive

    LMAO!!!

  2. Travis
    Travis on April 5, 2011 at 5:01 pm

    Ha ha! I notice the materials used and the location for that pipe, and I can only wonder if it was installed solely because there was a shortage of places to hang a lockbox.

  3. JimG
    JimG on April 5, 2011 at 5:40 pm

    Just closed one in there. What’s funny is there are not one but two rails full of lock boxes. Good Luck Jim!

  4. sosad
    sosad on April 5, 2011 at 5:48 pm

    That’s a lot of boxes in any case, but…is this a place where you need a fob to get through the gate, and then a key for the unit? That seems to take two containers, one for each, here where I live. So the number of ornaments is double the available units.

  5. Rob M
    Rob M on April 5, 2011 at 5:54 pm

    You should do a caption contest for this picture.

  6. James
    James on April 5, 2011 at 7:17 pm

    JtR, what I am missing in this pic? I just see a “couple” of lockboxes 😉

  7. keepitinflated
    keepitinflated on April 5, 2011 at 7:28 pm

    I am sure the rest are just rentals. And BTW who doesn’t want to buy/live in a neighborhood with that many renters.

  8. David Overfield
    David Overfield on April 5, 2011 at 11:20 pm

    Jim, that’s one of the funniest RE pictures I’ve seen. There’s got to be a popular RE picture gallery website that could use this picture.

    Can’t wait to see how this REO turns out, but I’m betting a sale is a long way off.

  9. just some guy
    just some guy on April 5, 2011 at 11:23 pm

    You could play a tune on those with a metal pipe.

  10. just some guy
    just some guy on April 5, 2011 at 11:23 pm

    A real estate version of the xylophone.

  11. 3rd Generation
    3rd Generation on April 6, 2011 at 10:40 am

    “Buy NOW before you are priced out forever.”

  12. Jeeman
    Jeeman on April 6, 2011 at 11:13 am

    Since it’s an REO, and the seller is just a bank, I’m gonna criticize the price. $309k? ROFL…I wouldn’t touch it for more than $250k.

    That picture screams “time to lowball” for a property rental.

  13. t
    t on April 6, 2011 at 2:28 pm

    I used to live in the Caminito Plaza Centro part of Villa Vincenza as a tenant when it was called Nobel Court. I lasted 6 mths. We were flooded through the ground floor walls, despite there being underground parking beneath us. Those morons would water the soil up against the walls. We got flooded through the ceiling, when they had the heavy rains – there is a reason you are supposed to clear the down spouts of leaf debris. The washing hose leaked and caused mildew in the closet and they tried to replace the toilets with low water use toilets – while the bathroom was occupied. Guess how well that went down.

    They had a rapist in residence, and put identypictures on the front door for weeks on end – til they caught the resident who was such an upstanding citizen. The leasing staff would have to cross from one side of nobel to the other and there were regularly accidents… people hit or cars hitting each other. One leasing agent proudly informed me of how she’d had Mathew Broderick (the inspector gadget guy)’s car towed cos apparently he was as good at parking in his own spot as many of the other residents… You couldn’t give me one of those condos as a gift.

  14. Geotpf
    Geotpf on April 6, 2011 at 2:40 pm

    Doesn’t “condo complex in litigation” equal “cash only, and only if you are an idiot”? I guess that explains the picture. Good luck.

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