Turkey Short Sales

By
Industry Observer

Not all short sales involve homes.  Mpls/StPaul area grocers have been selling turkeys this week for prices as low as thirty-seven cents a pound.  Farmers say they are getting a little more than twice that amount when they go to market, and that may be less than it costs to produce them.  Apparently, even though turkeys are being sold for less than half of their cost, the turkey investors feel that they can make it up in volume, just like homebuilders.

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 Mike Carlier  Lakeville, MN

 

612-916-3033

 

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Rainmaker
885,387
J. Philip Faranda
J. Philip Faranda (J. Philip R.E. LLC) Westchester County NY - Briarcliff Manor, NY
Broker-Owner

I'm sure the approval process is far faster. 

Nov 26, 2009 02:45 AM #1
Rainer
89,841
Christine Hynes
American Capital Corporation - Laguna Beach, CA
Orange County Senior Loan Consultant

Mike,

The opposite has happened from lettuce.  Commerical boxes went from $10 a box to $40.

Nov 26, 2009 02:51 AM #2
Rainmaker
522,122
Mike Carlier
Lakeville, MN
More opinions than you want to hear about.

JP, I'm not sure.  It takes longer to defrost a turkey than it does to foreclose in some places.

Nov 26, 2009 03:08 AM #3
Rainmaker
655,832
Bob & Carolin Benjamin
Benjamin Realty LLC - Gold Canyon, AZ
East Phoenix Arizona Homes

Sweet potatoes here in some places have taken a dive -- some at $.25 per pound -- and other places at $.99 a pound ! ... wow.

Nov 26, 2009 03:08 AM #4
Rainmaker
522,122
Mike Carlier
Lakeville, MN
More opinions than you want to hear about.

Christine, this is a good sign.  I was watching an infomercial the other night, and the guy with the jewelry and the helicopter said that housing markets tend to follow the lettuce market.  For just $1,995, he will send me his entire course on how to get rich without using your brain.  I would think about it, but that would disqualify me from taking the course.

 

Nov 26, 2009 03:15 AM #5
Rainmaker
522,122
Mike Carlier
Lakeville, MN
More opinions than you want to hear about.

Bob & Carolin, yesterday I drove an extra 15 miles to get 49 cent sweet potatoes.  On the way home, I got to thinking how much my half priced sweet potatoes cost me.  Five pounds at a half dollar a pound savings = 2.50, minus gas burned 1 gallon at 2.59.  Shoulda bought more taters!  ...if only I had signed up for that infomercial course...

Nov 26, 2009 03:30 AM #6
Ambassador
2,791,652
Anna Banana Kruchten CRB, CRS 602-380-4886
Phoenix Property Shoppe - Phoenix, AZ
Arizona's Top Banana!

Hey Mike this is the 3rd time I'm trying to leave you a message - hope you see this one.

Thanks for the Turkey Short Sale laugh!  It's more fact than ficition in our neck of the woods.

Nov 26, 2009 08:07 AM #7
Rainmaker
522,122
Mike Carlier
Lakeville, MN
More opinions than you want to hear about.

Anna, apparently the turkey farmers around here are producing more and more turkeys.  I guess there's something called "turkey derivatives" where the losses are insured by some company that turns the losses into bonds and sells them around the world.  The more the farmers lose, the more they make!  I just don't understand.  This is much too complicated for a city boy real estate guy.

Nov 26, 2009 10:37 AM #8
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Rainmaker
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Mike Carlier

More opinions than you want to hear about.
Everyone has opinions -- what's yours?
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