The loan-to-sequels: The U.S. dollar villas and lose in the end sold 10,000

U.S. bank to sell the dollar "car are" Detroit a two-story residential, and promised to lose 10,000 U.S. dollars, only in the first 19 days to find a buyer.

U.S. "Detroit News" reported on the 13th, in view of the property market downturn and housing taxes and other expenses, the buyer of this small dollar investment may be difficult to return to this.

-- Detroit a two-tier residential prices only one dollar. Detroit is responsible for marketing the house of intermediaries Kente Ke Er Pate because it so cheap and shocked. He said: "I have never seen a dollar price of housing."

Housing facing huge tax arrears

two two-lying residential in the eastern city of Detroit, Michigan, the host of the 8111 Telafusi Street and Detroit a few blocks away from the airport.

Kaer E Puxiao local residents said, the November 2006 price of 65,000 U.S. dollars, best known as the entire housing block. But last summer the owner the right to redeem the loss of collateral, property confiscated by the lending banks.

After that, "those greedy thieves surrounded it," Epu Xiao said, "First, the external walls of the missing link plate, and then the fence disappeared. Then they forced open the door, take away all other Nengna things."

Bell because of the Employment Management Group sales by banks room. Group staff entered the house, found that the house was almost swept away valuable items and air, brass, stoves, Electric components, kitchen sinks and other equipment were stolen.

This did not publicly name the bank in January this year to 1,100 U.S. dollars sell it, no one Wenjin. Faced with the huge 4000 U.S. dollars of unpaid taxes and water charges, the banks forced to price (the topic) to one U.S. dollar.

room on the 12th at the Chang Kai 40. Kitchen and the basement for several door has not, before smashing windows, weeds around long to Qixiong, garage has recently been showing signs of a fire.

Keerpate said: "It's only a hollow shell."

The loan-to-crisis aftermath

U.S. real estate companies, Anthony Viola, "said one U.S. dollars property" is secondary mortgage crisis aftermath.

He explained that a crisis of the loan-to-the owner the right to redeem the loss of collateral, some Detroit suburbs a large number of unoccupied housing, the availability of these thieves frequently patronize. Housing lost brass, and other components, the potential buyers interested in not only declined, and difficult to apply to bank loans, resulting in a further decline in the price of such housing. The results, when the repayment ability of the lower house purchase loans, the bank now found that a large number of availability "rotten" in its own hands.

"These sub-issuing bank loans did not get much sympathy," Viola said, the real estate company in the U.S. headquarters in Cleveland, Ohio, and other cities, "the judges do not allow these banks sit back and regardless of property, or order their demolition, Maifang either. "

Because of this situation, banks eager to 8111 Telafusi Street residential sell. It Yaoya to give more concessions to the buyer, the buyer commitments for expenditures such as housing transactions, and lose a total of about 10,000 U.S. dollars, only to attract buyers.

"Detroit News" said that this incident shows how the Detroit property market into a "desperate" situation.

At present such "investment" more than one. U.S. National Association of Realtors Shoufang official website on the 14th, Detroit 4 for sale in the dollar-denominated, identified 30 U.S. dollars, 99 dollars, 100 U.S. dollars, such as ultra-low-cost housing is also the minority.

Buyer sentiment and profit

Keerpate refused to provide the specific identity of the buyer, only that buyers for a local woman, intends to use cash to pay the whole of one U.S. dollar.

He said that the purchase the woman as an investment, do not intend to stay.

However, this investment is still difficult to predict when will profit. Keerpate said to the woman as an example, though she only spent one dollar buying houses, but need to spend tens of thousands of dollars to purchase equipment within the housing, decoration but also good after the theft.

According to reports, even if the demolitions, she will spend 5,000 U.S. dollars. Not only that, in 2009 she would need to pay real estate taxes 3,900 U.S. dollars.

(This article Source: Guangzhou Daily)