Wednesday, March 11, 2009

Geither's house for sale at above market price

Now we can rest assured that Geithner's bank plan for toxic assets is the same as his house.

Get someone to buy your assets at an above market rate!

Geithner's Coldwell Banker broker says "it is vey well priced. He wants to sell it fast."

Another broker disagreed. Scott Stiefvater, said that sales are so slow, that you don't know how low it can go, but "people are making offers that are 20 to 30 percent below the asking price.",0,6227294.story

It's listed for $1.635 million. He paid $1.602 million for it in 2004., the real estate pricing service also has a different idea of the house value. They estimate it to be worth $1,374,000, with a bid of just above a million dollars. Sell it fast? Only if favors are included!
  • Zestimate: $1,374,000
  • 30-day change: $28,000
  • Value Range: $1,044,240 - $1,483,920
  • Last updated: 03/09/2009,5years_chartDuration/

So Timmy wants people to overpay for his house.

Maybe he can get some hedge fund manager that is going to participate in the TALF program to buy his real estate, with an above market offer!

And then get a loan through Countrywide, with Chris Dodd's help!


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