Life Steal this house - foreclosure neighborhoods

**Rain Man** · 03-03-2012, 01:45 PM

I'm presuming this isn't a DC thread, but I thought it was interesting. They show one house for sale in each of ten hard-hit housing markets.

Looking through them, which one would you buy if you were going to retire and had to buy one of them? Poll coming if I can only get the bank off my back.

http://money.cnn.com/galleries/2012/...mes/index.html

Hammock Parties · 03-03-2012, 01:48 PM

Too bad this is in Detroit. I like brick.

**rockymtnchief** · 03-03-2012, 01:49 PM

Definitely NOT the one in Detroit!

**Donger** · 03-03-2012, 01:50 PM

This one:

Mr_Tomahawk · 03-03-2012, 01:51 PM

Bought our house as a foreclosure. It was an absolute steal.

It needed a little TLC...nothing I had to hire-out to get done. When/If we buy again, I will def. check out the foreclosures first...

Jenson71 · 03-03-2012, 01:52 PM

Phoenix

ClevelandBronco · 03-03-2012, 01:52 PM

I'd never choose to live east of the Mississippi or in California. I'd take Phoenix before Las Vegas.

**Rain Man** · 03-03-2012, 01:57 PM

Quote:

Originally Posted by Satanic Goat

Too bad this is in Detroit. I like brick.

I was trying to figure out if that's real brick or a veneer. Given the era of the house I'd lean toward real brick, but something about it doesn't look real.

**Rain Man** · 03-03-2012, 02:01 PM

Quote:

Originally Posted by ClevelandBronco

I'd never choose to live east of the Mississippi or in California. I'd take Phoenix before Las Vegas.

I'd have a very hard time living east of the river, too. I suspect there are places I'd like, but I'm ignorant about them.

I think the Vegas one seems like a screaming steal if you were going to live there. Even if not, if a dozen of us got together and formed a corporation, it seems like something like this would be a good speculative investment. Rent it out until the market recovers and then sell it.

If you want to live in LA, that Lancaster one seems like a deal, too.

**Bugeater** · 03-03-2012, 02:01 PM

Quote:

Originally Posted by Rain Man

I was trying to figure out if that's real brick or a veneer. Given the era of the house I'd lean toward real brick, but something about it doesn't look real.

It looks to me like some builder used all the various leftover brick from his previous dozen or so houses. I love brick but that is freaking ugly.

ClevelandBronco · 03-03-2012, 02:03 PM

Quote:

Originally Posted by Rain Man

I'd have a very hard time living east of the river, too. I suspect there are places I'd like, but I'm ignorant about them.

I think the Vegas one seems like a screaming steal if you were going to live there. Even if not, if a dozen of us got together and formed a corporation, it seems like something like this would be a good speculative investment. Rent it out until the market recovers and then sell it.

If you want to live in LA, that Lancaster one seems like a deal, too.

I've been considering the corporation angle as well. There are never any guarantees, but it might be a good time to buy.

**Bugeater** · 03-03-2012, 02:05 PM

And to answer the question, I suppose since we're talking about retirement where I could sit inside in the air conditioning all summer long I'd go Vegas. Yes, it's a desert shithole but it's fairly close to some very cool places. No way I'd go south or to the west coast.

**Fire Me Boy!** · 03-03-2012, 02:07 PM

Quote:

Originally Posted by Rain Man

I'd have a very hard time living east of the river, too. I suspect there are places I'd like, but I'm ignorant about them.

I think the Vegas one seems like a screaming steal if you were going to live there. Even if not, if a dozen of us got together and formed a corporation, it seems like something like this would be a good speculative investment. Rent it out until the market recovers and then sell it.

If you want to live in LA, that Lancaster one seems like a deal, too.

No one here is brave enough to move from their comfortable, uneventful lives to move to LA. It's OK, the world has to have a balance between winners and losers, and without lower class people like those that live around Kansas City and Missouri and aren't brave enough to venture somewhere real, we wouldn't have garbage people and the people that make shoes.[/DaneMcCloud]

Stewie · 03-03-2012, 02:11 PM

I'd sit tight on buying any foreclosure. The robo-signing fiasco that was recently resolved is going to dump a boat load of foreclosures on the market. They're expecting a minimum of another 10+% price reduction.

Hoover · 03-03-2012, 02:34 PM

Phoenix because there are a shit ton of old people who will look to retire in the south. My other thought was Florida, but why relocate and have to deal with Hurricanes.

View Poll Results: Which one would you be most likely to buy?
North Las Vegas - 1600 sq ft - $79,000	12	14.29%
East English Village (Detroit) - 1500 sq ft - $15,900	2	2.38%
Royal Palm Beach, FL - 3 BR, 2 BA - $62,500	26	30.95%
Lawrenceville, GA (Atlanta Metro) - 3 BR, 2 BA - $67,500	2	2.38%
Park Meadow (Phoenix) - 3 BR, 2.5 Ba - $82,000	16	19.05%
West Lawn (Chicago) - 1400 sq ft - $64,900	3	3.57%
Lancaster, CA (LA Metro) - 5 BR, 3 BA - $154,900	9	10.71%
I would rather die tangled underneath a sofa bed than live in any of these places.	12	14.29%
I have a hard time making this type of decision. At least, I think I do.	2	2.38%
Voters: 84. You may not vote on this poll

03-03-2012, 01:45 PM
Rain Man NFL's #1 Ermines Fan Join Date: Jul 2001 Location: My house Casino cash: $3418491 VARSITY	Steal this house - foreclosure neighborhoods I'm presuming this isn't a DC thread, but I thought it was interesting. They show one house for sale in each of ten hard-hit housing markets. Looking through them, which one would you buy if you were going to retire and had to buy one of them? Poll coming if I can only get the bank off my back. http://money.cnn.com/galleries/2012/...mes/index.html
Posts: 141,192

03-03-2012, 01:48 PM	#2
Hammock Parties I'll be back. Join Date: Nov 2002 Casino cash: $4810478	Too bad this is in Detroit. I like brick. __________________ Chiefs game films
Posts: 277,451

03-03-2012, 01:49 PM	#3
rockymtnchief Supporter Join Date: Oct 2006 Location: The Crazys of Montana Casino cash: $10018968 VARSITY	Definitely NOT the one in Detroit!
Posts: 5,740

03-03-2012, 01:50 PM	#4
Donger "Think BOOM!" Join Date: Nov 2003 Location: 33.675° N 106.475° W Casino cash: $10449900 VARSITY	This one: __________________ I think the young people enjoy it when I "get down," verbally, don't you?
Posts: 180,512

03-03-2012, 01:51 PM	#5
Mr_Tomahawk Prestige Worldwide Join Date: Jan 2009 Location: Spring Hill, KS Casino cash: $3140526	Bought our house as a foreclosure. It was an absolute steal. It needed a little TLC...nothing I had to hire-out to get done. When/If we buy again, I will def. check out the foreclosures first... __________________ Adopt-A-Chief: John Dorsey
Posts: 18,384

03-03-2012, 01:52 PM	#6
Jenson71 fides quaerens intellectum Join Date: Oct 2003 Location: United States Casino cash: $8330900	Phoenix
Posts: 15,986

03-03-2012, 01:52 PM	#7
ClevelandBronco I'm with the banned. Join Date: Sep 2006 Casino cash: $5658955	I'd never choose to live east of the Mississippi or in California. I'd take Phoenix before Las Vegas.
Posts: 28,113

03-03-2012, 02:05 PM	#12
Bugeater The Maintenance Guy Join Date: Sep 2005 Location: Renovated Bugeater Estate Casino cash: $6252680	And to answer the question, I suppose since we're talking about retirement where I could sit inside in the air conditioning all summer long I'd go Vegas. Yes, it's a desert shithole but it's fairly close to some very cool places. No way I'd go south or to the west coast.
Posts: 70,443

03-03-2012, 02:11 PM	#14
Stewie MVP Join Date: Oct 2006 Location: West of the Equator Casino cash: $2009901	I'd sit tight on buying any foreclosure. The robo-signing fiasco that was recently resolved is going to dump a boat load of foreclosures on the market. They're expecting a minimum of another 10+% price reduction.
Posts: 13,593

03-03-2012, 02:34 PM	#15
Hoover Rufus Dawes Jr. Join Date: Aug 2000 Casino cash: $1758179	Phoenix because there are a shit ton of old people who will look to retire in the south. My other thought was Florida, but why relocate and have to deal with Hurricanes.
Posts: 17,337

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