Lot of subsidized apartments needed for the wave of section 8, homeless, foreclosure victims and tent city residents looking for shelter in the near future. House builders have no future for a long time. Probably a good time to get out of homebuilders while this mixed up thinking is going on , jumping the homebuilders to irrational price levels
You hit the bull eye. My coworker just moved to an apartment. He said he did not want to pay the property tax based on 1.4 million since the value of the house is about 1 million. He called the county to reduce it but the county said it would take up to two years to adjust it. So he sent the keys to the bank.
For sale: Spacious home outfitted with six bedrooms, 5 1/2 baths, granite countertops, stainless-steel kitchen appliances, a three-car garage, exercise room and wet bar -- all for $875,000 in the Red Cedar West subdivision of Leesburg where houses once sold for $1-million-plus
The foreclosure signs that have been sprouting up in less-affluent communities since 2006 are beginning to appear in the well-off suburbs, attached to houses that once cost $1 million or more. Although those kinds of homes are in the minority now, real estate agents predict the numbers will swell.
In Loudoun County, 60 houses priced over $750,000 are among the 932 foreclosures and short sales -- an exit strategy of selling the house at a loss with the bank's blessing to avoid foreclosure.