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Real Estate News: Bargain houses largely unsold - Modesto California

Discussion in 'Real Estate Investing' started by andviv, Dec 30, 2007.

  1. andviv
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    andviv Gold Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass Summit Attendee

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    Bargain houses largely unsold

    Courthouse-step auctions offer 1,336 properties in foreclosure -- 17 are sold
    By J.N. SBRANTI
    jnsbranti@modbee.com
    last updated: December 15, 2007 04:23:07 PM


    Another foreclosure record was set in November as 1,336 properties were offered to the highest bidder on the courthouse steps in Modesto, Merced and Stockton.
    Now here's the real surprise: Only 17 of them sold, despite lenders offering deeply discounted prices.

    ....


    Many of the foreclosed houses in Stanislaus, San Joaquin and Merced counties, however, are being discounted by $100,000 or more, O'Toole said.


    Read more here
     

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