I purchased for around$115,000, and has been a great rental, but value has nearly doubled ($220,000) and I have continued to reinvest all excess  proceeds back into principle payment, on a 15 year fixed, so I currently have a lot of equity in the property.  

For example, a listing in OKC that is overpriced by $50k will mysteriously have a Zestimate about $4k shy of the list price . . . fast forward 6 months when the seller cut the fat off their list price and are at market value . . . the Zestimate either trails on the high side or sits right at the revised value. 

Surplus funds (excess foreclosure proceeds) law vary wildly by State. 

The end result was a big fat nothing.

They *might* be telling me the absolute truth, but I tend to interpret excess passion as 1 part truth and 5 parts hype.

It seems excessive to me.

Extra refrigerators/mini fridges, high powered gaming computers, excessive cooking, all can run usage up.

I wouldn’t be surprised if some cities started doing 10 year exemptions.As far as interest costs and the cost of construction goes- the majority of “homes” built will be apartment buildings by developers, funded through cmhc.This has already been going on for years but now developers are going to be able to build these on greenspace that was considered in developable previously due to zoning, ie, old school yards, large undeveloped lots in residential areas, large schools yards with excess space, etc.

If this was not the case you may have just had an excessive Insurance and Tax increase for 2024.

-There is some excess garbage near their garbage cans.