RE and Foreclosure Chatter

139 and 16, which is an expected increased in the existing homes inventory, since we are into the real selling season; although, I wonder how much selling will be happening this season.

Here is a pic from the yahoo RE listing for the foreclosure on Lewisville Road. The ad says there are no bedrooms and no bathrooms and the price is 45 thousand. The ad does not list a street number or any other identifying info. Since most foreclosures are handled by realtytrac nowadays, there is not that much info unless you subscribe to realtytrac, which I don't. What I am thinking, though, is that this image gives us a lot of info if we are familiar, as we are, with Elk. Take a look at the picture and try to figure out where it is.

The top left is the roofline and parking lot for that garage up there at the intersection of Hickory Hill and 472, which would be on the left, too. So, as I said in an earlier post, I think it's the prefab across from that parking lot. I could very well be wrong and this could be just a stock photo. 

When we were house-hunting, we looked at a prefab somewhere in Upper Oxford, and the price was significantly lower than the regular house like the one we ended up buying. But, I will say that this prefab and the one we looked at didn't look trailer-y, if you get my meaning. They looked like regular houses, or at least enough so that the price seemed like a hell of a bargain. 45 grand! I know there's not a lot of call for rentals out here, but it seems to me that someone who wanted to live here for life could make some money on it as a rental. But, if it is next to a commercial property, as it is in this pic, the value of the property will forever be crippled. Back in the day, when we were looking for houses, we looked at a place up in Lancaster County that had a small mechanical garage next door to it, and we wouldn't even consider it because who knew what the commercial business would become in the future. Who wants to live next to a high-flow commercial property like a WAWA?

So we'll keep an eye on this FC and see what happens.