tag:blogger.com,1999:blog-2807403883562053852.post692669367800138288..comments2024-03-27T08:40:31.785-06:00Comments on Clayton Cramer.: That Real Estate Auction I Mentioned...Clayton Cramerhttp://www.blogger.com/profile/03258083387204776812noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-2807403883562053852.post-65751032004976358562012-07-17T14:24:38.094-06:002012-07-17T14:24:38.094-06:00I think there is also some "hope and change&q...I think there is also some "hope and change" in play in that the news media (TV, Radio, newspaper) in Idaho has been telling us of the local market seeing a rebound with prices going up and a shortage (or at least reduced number of listings). Supposedly at least in Ada and Canyon there have been an increase in bidding wars.<br /><br />So just maybe the bank is also hoping that it will continue and make it to Boise County....<br /><br />Now if unemployment was below 5% instead of the real number of 10%+ (I'm sorry but I think the official numbers are total BS) then $180K would probably be very reasonable.<br /><br />If that house were in Ada or Canyon with that large of a lot my guess would<br />be that it would be sold for that price.<br /><br />I would be surprised if it sells this year!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2807403883562053852.post-59594722501587116902012-07-17T09:59:06.292-06:002012-07-17T09:59:06.292-06:00That does seem a very bizarre price. It would mak...That does seem a very bizarre price. It would make one think that the bank's asset group has no clue about the area.Cincinnatushttps://www.blogger.com/profile/10424218376882403880noreply@blogger.comtag:blogger.com,1999:blog-2807403883562053852.post-57934552238515907382012-07-17T09:50:41.732-06:002012-07-17T09:50:41.732-06:00My guess is the bank is all too aware of the weakn...My guess is the bank is all too aware of the weakness in the housing market. However, as long as the house is on the market, it can be shown as an asset worth $187,000, or whatever the outstanding mortgage amount is. Once that house sells, for cold, hard cash, the difference will have to be booked at a loss. <br /><br />Explaining to the examiners a $90,000 loss is not something I would want to have to do either. My guess is that home will be vacant for a long, long time. <br /><br />RobAnonymousnoreply@blogger.com