buying a foreclosure: Another Way to look at the Real Estate Market
- 04/02/12 05:05 AM
Today, I was standing in line waiting to finish up my income taxes and a senior citizen came in and began talking to me about how he took a "bite in the britches" with the sale of his home. His definition was $40,000 loss in value. That seems and appears small to those who have taken greater losses but to this senior citizen, it was everything in the world to him. It matters and should matter, but most don't understand how much the market adjustment in real estate really has a snowball effect. Then I stepped back and and another light … (2 comments)
Today, I was standing in line waiting to finish up my income taxes and a senior citizen came in and began talking to me about how he took a "bite in the britches" with the sale of his home. His definition was $40,000 loss in value. That seems and appears small to those who have taken greater losses but to this senior citizen, it was everything in the world to him. It matters and should matter, but most don't understand how much the market adjustment in real estate really has a snowball effect.
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