Sunday, March 28, 2010

Not Yet

bottom not yet, nice chart:click

The bigger they are: we first saw this house from the water, it strongly appealed to me because I am from the Pacific, and seeing the familiar architecture it immediately peaked my interest. That was in 07. Unfortunately the house inside is not representative of the architecture in my opinion at all and plus there are 65k year (gasp) taxes which I would never pay ,I am not a club person and its way too big for us. But it was fun to ponder for a while. Out of curiosity been watching the house, someone purchased it from an estate in 07 for 3.5 and now it is listed for 3,4999. listing here:
click it is rumoured speculators who paid cash.
purchase here:
purchase It is also rumoured that the flippers put around 250k in the house trying to make it more asian inspired. Owning for 3 years, plus upgrades and commissions might add up to around 500k plus loss.

Extend and pretend:

Mad max plunger of the day;
Massive tract home McMansion foreclosure that the bank took back 3/22/2010. This baby sports a rather impressive 4600 sq ft.

Are you ready for this...purchased 5/2006 for $1.2 million. Thats is correct, over $1 mil for a tract home. Assessor says market is $655K. Could this be a strategic default or a failed short sale?

How does this massive foreclosure affect the adjacent.

Purchased: 4/2007 for $725K

Purchased: 10/2008 for $475K (this was also a foreclosure, origianl price 11/2004 for $950K)

The price on these tract home McMansions are falling straight down.

Oh my!

2500 sq ft Max.

1 comment:

Anonymous said...

Another one that did not hold its value that was paid brand new.

Sold: 3/2010 for $380K
New Price: 10/2007 for $829K

That is a major short sale. $449K (54%) loss in just over 2 years time.

How does this recent $380K sales price affect the adjacent.

Purchased: 11/2007 for $629K
Purchased: 8/2007 for $892K

Oh my!

2500 sq ft Max.