American Patriot Realty
There are markets in Illinois that have only lost 10% on price and have very little if no foreclosures and then there are those with the 50% loss due to high foreclosures. That is why you must get the help of a professional who knows and why it is a great time to buy. What comes down must go up.
If Suzie Orman really thought that- she wouldn't be doing a TV show for income... she would be out there picking up those homes for $100 and building her porfolio. When someone makes a statement or gives advice like that, why are they telling everyone else about it? If it is true, they would make tons of money on it.
In some areas, prices are down 50%, 60% 70%, or perhaps more. But 99.95%? No. And it doesn't depend on where you live.
Suzie's an entertainer (not especially good at that, in my opinion) who's trying to sell books. Pay attention to someone who knows what they're talking about.
Hope that helps.
I have seen you ask many quesitons in the past few months on this forum. Have you taken some of the advice you've recieved by getting a RealtorÂ® out to your place yet to give you a more difinitive answer on what your property might be worth? It is true that homes have diminished in value over the past few years, but the decline that I have seen in the recent months has been slowing. Sometimes we must consider the 'cost' of owning the home as well.
Good luck to you,
Linda Dressler, REALTORÂ®
SRES, SFR, ADPR
'Helping From The Heart'
As far as Suzie Orman's statement, it's like those TV commercials where the guy is telling you that he bought a house for $100. What he doesn't tell you is that there was a $20k tax lien on it too plus $3000 to get a occupancy permit. Suzie might be talking about one place in the USA and over a newly discovered toxic waste site unknown to everyone until 60 Minutes found it. If there were homes out there for $100 (worth owning) I would own 1000 of them as would every other Realtor. Ask us how many we have bought in the last 20 years --- 0