😱 Abandoned Homes and Sinking Sales
😱 Abandoned Homes and Sinking Sales
Uncover the Hotspots of Neglected Homes and Cooling Markets
Alright, strap in, folks, because we're about to take a rollercoaster ride through the mad real estate market.
First stop, Zombieville.
Missouri's got a zombie problem, they’ve got homes that are so neglected, that they're practically begging for a TLC reality show.
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Then there’s Case-Shiller's out here like a doomsday prophet, warning about its 4th consecutive price drop.
Last but not least, let's talk trends.
Forbes can’t stop talking about the wonders of built-for-rent spaces.
Think of them as the mullets of the housing world: business in the front, party in the back.
In this edition of the AltReports:
🏠 Property Purgatory
📊 Market Mayhem
💰 Interest Intrigue
🏘️ Rental Rage
🌶️ Sizzling ZIPs
Video of the Week: 1st Inning of the CRE Correction
Chart of the Week: Cash Yields Now Exceeds Stocks
Podcast of the Week: Pre-Foreclosure Scripts to Close More Deals
Top 10 Zombified ZIPS in Q3 2023
The Zombies are back—homes so unloved, even their owners ghosted 'em.
Missouri's leading the zombie apocalypse with a 51% increase, while Texas is cleaning house, down 33%.
Cedar Rapids, IA, is the zombie capital, and Fort Myers Beach, FL, is the zip code you wanna avoid.
4th YoY Price Drop Overall, 10 of 20 Cities with YoY Drops.
The housing market's a hot mess right now.
The Case-Shiller index says home prices have dropped for the fourth month in a row.
Meanwhile, the National Association of Realtors is also singing the blues with their first month-to-month dip.
Condo Investor Sues Lender for “Illegal Interest Rate”
Bethany Liou, a businesswoman with a spicy past involving a $50 million settlement in a federal case, is now suing to stop a lender from foreclosing on her 63-unit condo complex.
She claims Mechanics Bank illegally raised the interest rate on her loan from 2.6% to 7.6%, causing her monthly mortgage payment to nearly double and leading to a $2 million windfall for the bank.