A national bank with billions of dept on their book is not selling at retail or current value.

Andrew,Madison Title, based in New Jersey I believe, does business nation wide.Melinda

Have we become a nation of blind ignorant fools that we let a problem go from being a small flame to a burning wildfire?

"To be frank, since the TARP money came in, they are still selling off (properties at auction), but they kind of took a step back." . . .Real Estate Disposition LLC (REDC), which claims to be the nation's largest real estate auction company, held 300 ballroom auctions in 2008 and sold nearly 33,000 foreclosed homes for $3.4 billion -- a seven-fold increase in sales volume and nearly triple the proceeds the company generated in 2007.Company CEO Jeffrey Frieden said he expects to "smash that record" this year as banks and lenders continue to amass a huge inventory of foreclosed homes and are more motivated than ever to sell their inventory. . . .Some observers fear that if the massive amount of debt the government is taking on to stimulate a recovery, inflation -- and higher interest rates -- are inevitable consequences.

This revelation of the true depths of the crisis bodes well for the bulk investor, it gives ammunition to the skilled negotiators out there who are doing short sales and single REO purchases, and it reminds us all that groups like the National Association of Realtors, that had an affirmative duty to protect us all is finding it increasingly difficult to spin their failures.

But parking might be an issue, and it would take two hearings and cost about $2000.

Stop spending money we don't have (both personally and as a nation).

Off street parking matters.

For any addition smaller than 200 sf here, you do not have to submit parking and landscaping calculations (which would not have worked), so the br addition is 199.6 sf.

If this happens everywhere in the nation, it will take away a lot of profits from wholesalers and investors alike.