This house is a repo - asking $120,000 - something wrong with it? Also, 2009 property taxes went up 31%.

Asked by L Morgan, Idaho Wed Feb 11, 2009

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j, , Denver County, CO
Wed Feb 11, 2009
As described on the Spokane MLS this property has water related issues from frozen pipes and there is currently an offer in place as the property status is showing contingent other, and this may have occured on 31 Jan. The property has been on the marekt from today for 21 days and had prior listings of 38 and 35 days. Your Realtor will be able to send you detailed info and give info on any and all prior listings showing on the MLS. There may be a possibility of submitting a competing offer as the property sale does require lender approval and some lenders do hold off waiting for multiple offers. As always if something sounds to good to be true it many times is.
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BJ Mors, , Tri Cities, WA
Wed Feb 11, 2009
Spokane is the 7th best market out of 292 major markets followed by a national, independent research firm. We have not suffered as bad as the North Idaho panhandle. I do not know where the Puyallup agent is getting his information; but every reasearch and statistical analysis and tracking shows that we entered the slump after Idaho and the rest of the nation and will probably recover sooner.
As to the home you inquired about. I do not know the particular house, but it is in a convientent south hill area. Banks generally just want to "off" their inventory. The wisest choice is to have a home inspection. A few $$ now could save a lot in the future and give you a good, true picture of the home. Then you can continue with the purchase or rescind the purchase offer if there are too any negatives. There are some great buys out there and only you with the assistance of your own realtor can decide what is best for you. As to the increased property taxes--your realtor can access tax information on nearby properties to perhaps explain that or you can go to and see what neighboring homes have done. Good luck with your home search.
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Patti Marcot…, Agent, Spokane Valley, WA
Wed Feb 11, 2009
Dear L,

Thank you for your inquiry about the home located at 3303 E 30th. There is only one problem that I know about with this house. There was a leak around the toilet and there is some minor water damage. Other than that this house would be a great buy for someone looking for instant equity. I would be more than happy to show this cute house to you. Feel free to contact me at your earliest convenience. Have a great night!
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Don Dutton, Agent, Puyallup, WA
Wed Feb 11, 2009
Spokane has suffered dearly in this real estate slump. I still think it's a great town to invest in because of the universities and the explosive growth in the Idaho panhandle. Pick up the phone and call a local Spokane Realtor for details.
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