Lynette Jones

Well, I just made my first call on a property in my neighborhood. 3 bdr, 2.5 bth, 2 car garage, patio backyard, duplex, on the main st. of this beautiful neighborhood and guess what the bank owned asking price is.............................459,000!I know!!!!! Obviously, some people can't let go of the over inflated past. I am interested in buying and holding, as things will head back in that direction some day.

I am preparing an offer that is a little more reasonable, based on fact, not fiction. Rents in this area, for something like this go for about 1500.00 per mth. I used the mortgage calc.,in student resources and narrowed it down to 150,000, with tax and ins. considered. That is what I am offering. I will detail the reasoning and facts to the mortgage co. with my offer (who, by the way, has already written this property of as a loss) and cross my fingers. Wish me luck!
Ljay