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Foreclosures turn to bargains on Plano street 
02:03 PM CDT on Thursday, June 12, 2008
PLANO – As desirable a city as Plano has become, Hilltop Lane is lined with broken dreams and a sea of For Sale signs.
"I'm not upset,” said Christel Young, a new home buyer. “Other people might be, but I'm not.”
Since January, almost half the homes in the 3500 and 3600 blocks of Hilltop Lane have sunk into foreclosure. Twenty-one of 46 properties went back to the banks.
Many of those homes once belonged to a single investor, who lost them earlier this year.
Now, the two-block financial nightmare is leading to fantastic deals. Young bought a bargain at the location two weeks ago.
"I believe it was appraised at $139,000 and I got it at $109,000,” Young said. “So yeah, a good deal."
Houses all along this street are listed for 20 percent, 30 percent and even 40 percent off tax-appraised value. Real estate agents say they are selling.
In the last few weeks, the number of For Sale signs has dropped from 18 or so to a dozen. Still, a quarter of the street remains up for sale.
"Hopefully, we'll never see another street like this,” said Joan Severson, a RE/MAX Realtor who is listing two homes on Hilltop. “This is very, very unusual."
Hilltop is the only street of mass foreclosures Realtors like Severson said they know about in the area.
Though some homes remain vacant, police say criminals have not moved in. Instead, the area has seen eager buyers like Young, who are picking up bargains in a city not necessarily known for them.
E-mail jwhitely@wfaa.com
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