Bankruptcy Sale of Leases,Foreclosure Bus Tours And Leaving for Iraq…..holy Cow(s)!By
There is so much going on in the real estate world that some of it is down right weird and somewhat surreal. Check this story out on The Foreclosure Bus Tour. Holy cow! Can you imagine…..”and to your left is the Smith home……four bedroom, two baths, pool, and 3,000 sqft of luxury. Poor, poor Mr. Smith….he was wrapped up in an ARM (Adjustable Rate Mortgage) and now the smith family is looking for a new place to live….oh..look…there is the Smith family packing the U-haul now….everyone wave. “
Just this week….I have had two emails announcing bankruptcy sale of leases for both Sharper Image and Friedman Jewelers….WOW! To understand bankruptcy with regards to commercial real estate leases, I did some research and I found this cool blog In the Red, Business Bankruptcy. I had to read it a few times just to realize that I did not understand….but still a good site.
Also…look what is happening to Linens ‘n Things, Footlocker, Zales Jewelry, etc. You can read more HERE. From all my research, this is just the beginning. The opportunities are coming…….if you are liquid!
Now….here is the part of the blog were I ask…”is it really that bad?” I just read a blog submission from Michael Creel, A Realtor’s Road to Baghdad. I am just shaking my head…”Hey….real estate stinks….so I am going to Iraq!”
Other interesting links:
3) The Real Estate Directory This is a blog with short write ups on different real estate related news articles. Cool videos and articles.
Until next time……