Sadly, this house is listed in foreclosure. The note is for $627K. They are listing for $648K as you can see. I really do not see very many "jumbo" mortgages in foreclosure. But, prior to my starting this Friday ritual, it was rare to see homes with mortgage notes > $100K.
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We have tons of those around here. I can only imagine what they cost to heat and air condition.
You don't have bubble type pricing there, but it still strikes me as being a bit high. In areas with few restriction on growth, low wage scales and relatively low taxes (NC and Virginia) it can be very hard to consistently push much above the $100/sq ft mark. The recent slight increases are more likely due to material cost inflation.
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