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Investors dominate home flipping, auctions
The figures, from research firm ForeclosureRadar.com in Discovery Bay, also indicate that at December Bay Area auctions, about 2o percent of the sales went to investors rather than back to foreclosing lenders. In December 2008, that number was 3.2 percent. The data define any property not reclaimed by the bank at an auction to be an investor purchase because auction foreclosure sales require buyers to pay all cash, something most typical home buyers cannot afford, according to Sean O'Toole, CEO of ForeclosureRadar.com. A significant percentage of flippers from the boom times used mortgages to buy and flip homes that were rapidly appreciating, O'Toole said.
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Fission Commences Winter Drill Program at Waterbury Lake
Drilling will follow-up previous work completed in the East-West trending Corridor, which hosts the Discovery Bay, Disco Bay, Disco Bay West, and Talisker Zones, to the west of Hathor's Roughrider deposit. Primary focus remains at the Discovery Bay Zone. - Follow-up drilling on the eastern triangular claim where mineralization was discovered during the winter 2008 drill program (WAT07-008 0.10% U3O8 over 3.6m) (see news release dated December 7, 2009 and February 27, 2008). - New regional targets will include testing the Oban E-W corridor, situated approximately 3km to the north of the Discovery Bay Zone. - 93 line-km of ground IP and EM surveys to provide resolution...
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