14-Year-Old Real Estate Investor Buys Bank Repossessed Home

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14-year-old Willow Tufano is co-owner of this $100,000 value Florida home — Image: Chana Joffe-Walt/NPR — click to enlarge

This heart-warming story caught my attention. Good news is scarce in real estate, today.

With the US sub-prime crisis in 2005 an unprecedented real estate tsunami signalled the start of a worldwide recession. It was a phenomena known as the United States Housing Bubble.

Real estate markets everywhere went into free fall, a decline that may only now be bottoming out. Bank repossessed properties, or foreclosures, went through the roof and may still be on the increase.

Whenever clouds are about, sometimes, we’ll find one with a silver lining. 14-Year-old Willow Tufano from Florida was in the right place at the right time when a $100,000 value, 2-bedroom, home became available on an auction for just $12,000. Her mother, a Florida real estate agent, went into the deal with her on a half-share basis.
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