Today, I was waiting in a title office waiting to sign papers and reading the Phoenix Business Journal. The following article jumped out at me.
Cachet to unload Verrado inventory in its first new-home auction
Minimum bids start at about 50% of current list prices. Twenty-eight single family home.
Yikes! I would sure hate to be one of the neighbors.
Oh, I guess they already thought of that.
“It will be a huge negative for those homeowners who currently have their homes up for sale in the neighborhoods where the auction homes are located.”
And then, I read Shailesh’s concerns about the potential for a catastrophic financial meltdown.
This is going to be a very interesting year.
