It might be worth 50K under normal pretenses but you didn't know it needed a new gas line and that the sewer line is collapsed.

The IRS collapsed the transaction as a step transaction and recharacterized it as a cash out, taxed it, and the court supported it.

Either way, with the collapse of the subprime and a probable recession in the near future, I expect my personal market to slow down some across the board.

(If you get the "$2k job because the sewer line is separated and collapsed" I would get another opinion...that's the common BS I get sometimes.)

If you figure out how to do that consistently without taking risks that could collapse the empire, let me know and I can probably help you arrange a few billion in equity..

. :)Yes, ratios prior to the housing collapse were at 36/38% post bust, stressing prudent lending we are now at 50+%, now explain that one!

Mystery solved.The basement slab has collapsed.

The barricades down at the end of the street over the gaping hole in the sidewalk, locator markings on the pavement there and lack of anyone parked on that section of the street would lead me to think that they may be there for traffic control or to assist in setting up a lane shift for some emergency construction in the area since it appears the hole in the sidewalk is a collapse not a planned repair.

As every time I walk on them I feel like they are ready to collapse.

These are homes that sold for $200,000-$250,000 prior to the market collapse.