Bank owned homes in Boise

IDHunters

New member
Joined
Sep 15, 2005
Messages
534
Location
SE Idaho
Here's an opportunity for all you real estate moguls out there. The bank I work for has 2 homes for sale in Boise. They are new construction, and are initially priced about $75m less than appraisal. If anyone is interested in details, PM me or just ask in a post.

Thanks
 

IDHunters

New member
Joined
Sep 15, 2005
Messages
534
Location
SE Idaho
We hate 000's. Its easier to approve a loan for 1,000m than 1,000,000. Those big numbers scare me.

2 homes built in 06 and (to my knowledge) never occupied. 5 bed/2.5 bath appraised at $385m asking price $315m; 4 bed 2.5 bath appraised at $395m asking $319m; Homes are on W. Ardyce. Special financing for the homes is available through our mtg dept.

I don't know if these homes are on MLS or not-the info I have gives an internal bank contact so I don't think they are listed.
 

Steiny

Member
Joined
Sep 4, 2003
Messages
495
Location
North Central, IN (the corn belt)
I think you'll find that just about every bank in the country, presently owns a few homes.
I'm on the board of a bank and it looks like we are just about through the worst of this mess, although there is just about always a deadbeat or two out there losing their home, cars, or whatever.
Some deals can be had this way, however most of the homes debtors walk away from are generally a dump. Get the word out to your local bankers, they'll tell you when something is coming available. Last thing they want to do is own homes.
 

Moosie

Grand poopa
Joined
Dec 9, 2000
Messages
17,514
Location
Boise, Idaho
300k+ homes are a Dime a dozen in Boise now. I've seen 1m+ (YAh, m for Mill) homes going for alot less then what they should. 100's of thousands less.

I'm new to the game with not much error in my descision's. I'm sticking to 150k homes and less. I'm getting approved right now for an offer on a 100k home next week. Other then that, I'm out of the game for a while :D
 

IDHunters

New member
Joined
Sep 15, 2005
Messages
534
Location
SE Idaho
I hear what ya Steiny. These homes have not been lived in, they were contractor "specs".

There will be some good deals around for those with the cash.
 
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