CNNMoney recently listed ten great home buys from across America. Some of these look like they could be good deals, but be forewarned: many of these “deals” look like the typical McMansion that got us into this subprime mess in the first place.
I’ve created a table of the homes for sale, which you can enlarge by clicking on the thumbnail below:
I know my wife would kill for an extra bathroom, but do you really need 5 and a half? I guess if you have the money to burn, then $2.2 million is a bargain at a 12% savings. Call me a cheapskate, but I think you could probably do better sifting throught the foreclosure market for some real bargains.
Home prices in my area have dropped over 8% since this time last year, and 18% over the last three years. How have the prices in your area changed?
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#1 by Peter at July 22nd, 2009
Some of those homes certainly do seem like a good deal. The Chanhassen, Minnesota one is only one city over from us. I think there are a lot more like that one that are still available.
Our city has seen a glut of similar homes to the ones in the story - a lot of them foreclosures from building companies that went under.
One 4 br 4 bath home in particular that we really liked in our neighborhood sold for $560,000 three years ago. Now the bank is selling it out of foreclosure for $360,000. I sure wish we had waited a couple of years - we could have bought that house for 200k less!
Peter´s last blog ..Having A Hard Time With Your Refinance Or Loan Modification Under The Making Homes Affordable Program? Join The Club.
#2 by enrique s at July 22nd, 2009
Peter,
We bought our home long before the current housing crash, and we’re planning on staying put. I don’t think that I could get my kids to move away from their friends, anyway.