Here’s an interesting perspective on copper theft from bank-owned properties in St. Paul:
Real Estate Snippets: Missing Copper
Of the 10 bank owned St. Paul properties I previewed for an investor today, 3 were completely stripped of their copper. One was so thoroughly stripped that the Romex wiring was gone as well. One of the houses had “recently had a break-in” according to the listing agent. No mention was made of missing copper!
There has to be an easier way to make a living than stripping copper out of empty houses. Right?
Michael Tortorello has an update on The Reserve condo development that only half happened at 360 1st Street N.:
Housing bust as deconstructivist architecture – City Pages – The Blotter
Today, a squat blue trailer sits adjacent to the slab. Its overhang has broken off and the light fixtures have been stripped. A banner on the east face of the trailer advertises condos for sale in bold black, foot-high lettering. The phone number has been disconnected.
Shouldering the concrete slab now is the Magellan Development Group, of Chicago, Illinois. They’ve reconfigured the interior plan to accommodate 131 units, ostensibly downscaling the price-list in the process. But according to Brian D. Gordon, a Magellan v.p., no investors have committed to finish the building. And no units have been sold.
You folks across the river may find this St. Paul real estate data interesting.
With a few exceptions, it seems like the closer you live to Minneapolis, the more your home is worth. 🙂