Friday, January 29, 2010

biggest losers

option arms that is:click

Mcmansion is dead:click

The flippers got lucky and hit a home run:click purchased last february for 614,500, plus approx
13k in taxes for 1 year and 6 percent re commission , loan payments on 500k for approx 1 year, plus improvements =? purchase price of new buyers 820k. originally ask price $876k was on mkt for 143 days , listed with 3 different brokers, plus time to close. somebody bought the house across street from lasalle bank for 625k click I wonder if Mr Bull knows that his higher price will reflect on his new tax bill??? Seems the sellers of 3305 live on the next street and probably couldn't resist such a good deal. And then, there's this one. bought from chase bank for 1 mil, previously
sold for 1.9, it was almost 50 percent off . click what a deal!



140 dollars per sq foot said...

Either the flippers got lucky, or this is another scam mortgage.
We will see if it goes into foreclosure in six months.
It seems there are always a couple of over eager buyers out there who pay too much for a home, we have seen this happen dozens of times in the past 3 years, and often they come back on the market 6-12 months later for an even lower price.
That seems to happen every month or so on the waterfronts.

Anonymous said...

McMansions are dead alright. I gree with the article 100%. Here is a tract home McMansion that is approx a 1999 price roll back at $100 sq ft asking price. This baby sports better than 4500 sq ft.

On zillow and MLS asking $450K

Purchased: 5/2004 for $604K

This is $154K (25%) less than the price paid brand new from the builder almost 6 years ago.

How does the $450K asking price affect the adjacent properties.

Purchased 8/2003 for $310K
Purchased 7/2009 as a foreclosure for $485K. Brand new in 8/2004 paid $665K.

2500 sq ft Max.

Anonymous said...

I forgot the MLS link on the previous post:

MLS: M1366528

2500 sq ft Max.