Wednesday, August 20, 2008

Our foreclosed homes look so much nicer than that cardboard mess in Las Vegas

Man - so much news today, I hardly had a chance to do anything but read it, let alone work, let alone blog. And just when I thought it was safe to shut it down, comes word that Kym Worthy's house is in foreclosure? WTF? I keep thinking that at some point the drama is going to stop. (I'm tired and cranky!) Fat chance, apparently.

What depresses me re: the lady prosecutor's situation is that like many, she paid way more than anything - foreclosures included - appears to be worth in her neighborhood these days. At least it's not just happening in Detroit. Las Vegas was already half-empty before this mess started, as so many of those particle board-fantastic homes were owned by out-of-town investors. That's a city that's going to come to know the joys of abandoned neighborhoods quite soon as well, I imagine.

Back to Kym. Today, Trulia's listings show that the highest price in the University District is now $289K, also a foreclosure; the highest non-foreclosure price is just $239K. That's a lot lower than the $337K that Worthy paid in 2004. (From the description, it's just a nice house like lots of others in that neighborhood.)

I read recently that the median sales price in Wayne is $28,000 now, down in a year from six digits. Sometimes I wonder how long before you start seeing board-ups in the middle of Indian Village. Maybe they're already there. I haven't been by in a month.

Meanwhile, the crazies over on the Freep message board are actually being productive for a change, suggesting that somebody buy the girl her house back. If I had money, I wouldn't hesitate.

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