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Update on Foreclosed McMansions
About a month ago I wrote about two foreclosed McMansions: one in Downers Grove, Illinois (a western suburb of Chicago) and one in Alexandria, Virginia (a suburb of Washington DC.)
Neither one has sold but both have been reduced.
1710 Maple Street, Downers Grove
5997 Crown Royal Drive, Alexandria
How long will it take these homes to sell? And how low will their prices ultimately go? We’ll see. The bank holding the Downers Grove house is, obviously, more aggressive with pricing right now than the one in Alexandria but the Downers Grove house has also been on the market a much longer time (over two years in total.)
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Mom and Pop Investors LLC is an independent publisher. Mom and Pop Investors LLC is not a registered investment advisor. Please consult your investment professional before making any investment decision. Sources of information are deemed reliable but they are in no way guaranteed to be complete or without error. The Editor may have positions in and may from time to time buy or sell any security mentioned herein. Past results are no guarantee of future performance.