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Originally Posted by STL240SXDRIFT
I bought my house in 2008 at the bottom of the crunch. Picked up a 2,200 Sq/ft 2 story 15,000 sq/ft lot size foreclosure that was turn key ready to move in. 2 car over sized garage. Purchased for $135,000, appraised out at $175,000 before purchase, since then comps in the area are selling for $215,000 (2012-2014 #'s). Ours w/out in ground pool appraises at $205,000 (eight house neighborhood, 11 houses have in ground pools). Owing is the way to go, keep a close eye on the market and you can find something that can generate some equity. Plus I am always looking at foreclosures, but once they hit the market someone jumps on it faster than me. :/
Would love to find a piece of land with some acres, build a detached garage for activities, build the wife her dream home, shoot anything I want, and ride dirt trails.
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My friend's nephew from STL bought a 2 story cabin on 168 acres with a river running through it for $300k near Bunker, MO. They use it as a weekend home, but it's a pretty awesome property. All the water is spring water, but you have to cross 3 creeks to get there, so not s-chassis accessible.