Where Else but California? One of my recent posts listed California as one of the top states in the USA for repossessed homes. Well, nothing like a good start up, yep in San Diego you can call the Repo Express. Realtors have organized bus tours of repossessed properties. The tour takes one on an inspection tour of repossessed homes. Sure they are less now but are they a buy yet? I am sure the realtor is there to help….
One phrase I heard while watching the tv report about this was ‘selling below market value.’ How is it possible that anything sold ‘below’ market value? Isn’t the price it fetched between a willing buyer and seller necessarily the definition of market?
Professor Elam 
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