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?
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?
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8 comments:
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!
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!
My favorite part "Incredible bargain, $60k below appraisal."
Does anybody trust appraisers at all anymore?
shore 'nuff, 3523 SE Taylor was 100% financed, 80% first mortgage, 20% second.
i guess the second mortgage holder gets squat, eh?
Tell us how you found the info on the mortgages? Can it be found on-line?
realtytrac.com, and probably foreclosure.com. you have to pay of course, but it gives you lots if info.
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.
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.
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