.* You also want to cut/pay down your debt as much as possible.

Makes me wonder if the homeowner or contractor were trying to save money by cutting a few corners.

The banks, which seem to have an infinite supply of shadow inventory, could fuel this bubble for a long time.

I don't know the exact cut-off and it would vary per area, but if your house is old enough (1920 is near this tranitional time), the lumber could be true sized rather than nominal.

All this talk about multiple offers shows a market that could be underway towards increasing prices.My condo complex has 340 units and we have had values cut in half with properties just sitting for long periods, no action.Just noticed, everything except 2 units have sold, at huge discounts mind you, but sold nonetheless.Condos are the firt to crash and the last to comeback.

If they are not entirely motivated to sell their home, I would just cut it short and move on to someone who needs to sell quick.

Also the recent comps are $240,000 (for a great renovation), $225,000 (for a pretty good rehab....nice kitchen, nice bathrooms, good curb appeal, standard everything else), $190,000 (for average rehab.....basic, cut on finishing materials, etc.).

My impression is that the carriers that still do business here are trying to cut out risk anywhere they can because of future hurricane possibility.

Take a look, listen to what the seller/real estate agent says, cut that in half.At least, that seems to be how most wholesalers do it!

That gives the lender the right, but not obligation, to call the loan.Ways to come up with more cash include:- Borrowing from a 401k account (puts your retirement at risk)- Borrowing against existing property (puts your existing property at risk if the rental goes bad)- Selling stuff- Cutting spending and increasing savingYet another approach is to buy a property using hard money.