Tuesday, June 20, 2006

The Good News, The Bad News & The Good News

The Good News: The second of our four foreclosed upon units sold at auction yesterday.

The Bad News: It sold for $130,000. Significantly below appraised value.

The Good News: Since appraisers usually use MLS listings for their comps, the sale
should not affect our property value.

The sale is still pending final approval from the seller and then won’t close for another 30 days. I can only pray that our new neighbor is someone who actually wants to be our neighbor, live in our association and is a decent responsible person.

Please no more investors or flippers.

(**fingers crossed**)

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