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homestead - Re: [Homestead] land prices!

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  • From: Clansgian AT wmconnect.com
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] land prices!
  • Date: Sun, 6 Nov 2005 20:59:49 EST


Well, no. The holders of any notes against the property need only bid the
aggregate amount of all notes plus expenses. The lender has no motivation
to bid higher than necessary

Of course, not highter than necessary, but what's necessary? Most lenders
just want their money back so the usual thing is to bid their equity in the
property plus their expenses. If someone outbids them, then, great! They
get
their money back.

But what has begun to happen is that land and real estate prices are leveling
off. True, faster some places than others. With bids probable to be lower
than what a lender has in the property, it is plenty motivation to bid high
rather than take an immediate loss. The number of foreclosures is mounting,
prices are leveling off and dropping ... which leads us to:

>
>


The denial of the bubble has become boring. It's beginning to sound like
"The South's Gonna Rise Again"





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