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To: bitt

If anyone owns real estate in a blue zone they may want to consider selling and keeping themselves liquid.


6 posted on 06/03/2020 9:24:29 PM PDT by Vince Ferrer
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To: Vince Ferrer

...consider selling...
_________________________________

How? Most of northern IL is already priced at fire-sale levels with unreal taxes and has been for months.

NY realtors are forbidden to work. In many blue states, the public offices are undermanned and all legal processes are slowed. Closings are slowed due to re-opening guidelines that limit participants, even in open states.

Only cash sales are expedited. Mortgages take months and qualifying is stricter than ever. Even escrow funds must be verified before acceptance.

Many places occupied residences cannot be viewed in person due to COVID panic. Buyers are wiring escrow from out of state, then having to back out after viewing, due to problems (Zillow photos are often unreliable). Properties often ping-pong off and back on market several times before finally closing. Inspections are backed up due to COVID/riots.

Former modest vacation/hunting properties in red areas are selling within hours or, at most, days and they are being purchased by people fleeing blue areas at good prices for both, considering. There are no-to-few open jobs in these areas, so the buyers are financially secure/retired. Broadband is limited, especially with regard to uploads, which cuts out remote workers.

Moving takes time and often means both properties are unoccupied while contents are in transit. Needed work or accoutrements are being held up due to shipping delays.

Easier said than done.


38 posted on 06/04/2020 5:39:57 AM PDT by reformedliberal
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