Tuesday, February 19, 2008

33% off in Irvington - 2817 NE 24th Ave.

I stumbled across this bungalow this weekend, which is currently offered "subject to a short sale" at $450k, down from the previous selling price of $675k.

MLS ID# 7092039

Any tips from those in the know?


bearlee said...

Here's a Hawthorne beauty at a discount 3253 SE Taylor St mls# 8014013, asking price $499k, a WaMu repo. Would have gone for well over $600K just last year!

bearlee said...

And the double whammy is his neighbor is upside down and trying to sell at $779K, practically identical houses!

3004 SE Taylor St @ $779K mls 8009626

bought for $760K in May 2006

Jingle mail, jingle mail, jingle all the way, oh what fun it is to spent and then just walk away, hay!

PDXOutsider said...

My favorite part "Incredible bargain, $60k below appraisal."

Does anybody trust appraisers at all anymore?

PDXOutsider said...

shore 'nuff, 3523 SE Taylor was 100% financed, 80% first mortgage, 20% second.

i guess the second mortgage holder gets squat, eh?

Anonymous said...

Tell us how you found the info on the mortgages? Can it be found on-line?

PDXOutsider said...

realtytrac.com, and probably foreclosure.com. you have to pay of course, but it gives you lots if info.

Anonymous said...

Tips from those in the know? I don't know, but I'll tell you what I know -

2817 NE 24th Ave., sold originally for $160,000 in 1994, sold for $675,000 7/25/06. "Subject to third party approval" in the ad means they haven't run it by the bank yet to see if the bank will take it. Honestly, I don't think they would. Real market according to the assessor (yes these are usually off - but not by THAT much) was $505,140 in November.

Injecting my personal opinion into it - those pictures of the interior reveal a gorgeous house, and a trashy occupant. It's not a fixer unless there are very hidden problems. The listing is probably the occupant's wishful thinking - just because SHE doesn't value the house she's hoping the bank doesn't, either.

PDXOutsider said...

i agree, the inside looks nice, it just really needs a coat of paint, and the garage is falling down. there might be hidden problems lurking, but could be an easy fix. assuming the bank short sales it.