Mira Mesa house is listed after four months

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Submitted by EmilyHicks on August 21, 2011 - 1:30pm

The owner put in some upgrade in the front yard and back yard. House was purchased for $450K in March and now listing at $450K-$470K. I don't think they are trying to make any money out of this. What happened here? Divorce, job loss or tranfer?

http://www.sdlookup.com/MLS-110047765-75...

http://www.sdlookup.com/MLS-100069268-75...

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The only thing that I can
Submitted by Clifford on August 24, 2011 - 12:49pm.

The only thing that I can think of is:

The seller is trying to market the house at a low price (maybe to him/her $450k is below market) to generate multiple offers.

It's also possible they
Submitted by poorgradstudent on August 24, 2011 - 12:55pm.

It's also possible they bought in March expecting the market and overall economy to go up. This very well may be simply trying to minimize losses.

It's impossible to know...it
Submitted by svelte on August 24, 2011 - 1:52pm.

It's impossible to know...it could be anything.

I can tell you I bought a house once and my "dream home" came up 3 months later. I sold the original house after living in it only 4 months. :-) Strange but true.

The fact that the listings
Submitted by recordsclerk on August 24, 2011 - 3:08pm.

The fact that the listings says the loan is assumable gives some insight. My assumption is this is a VA loan and the buyer put little or no money into the deal. Probably got tired of being outbid for the more reasonably priced homes and went with an easy to close flipper property. I seen this first hand with some friends and co-workers that get tired and just settle and overpay. Like I have expressed before, probably got nice concessions towards closing cost (VA requires seller assistance). The buyer probably regrets over paying for the house and wants to start over or could be getting stationed somewhere else.

recordsclerk wrote:Probably
Submitted by Clifford on August 24, 2011 - 3:31pm.

recordsclerk wrote:
Probably got tired of being outbid for the more reasonably priced homes and went with an easy to close flipper property.

recordsclerk,

why are flipper properties easier to close ?

Flipper homes are easier to
Submitted by recordsclerk on August 24, 2011 - 9:20pm.

Flipper homes are easier to buy because they are over priced (IMHO). You won't have a lot of competition for that product. You may still see some well priced flips, but that is not the standard. So, basically if you are qualified to buy at the list price, you should be able to put in an offer and obtain the property.
I feel the same way about New Construction. If you qualify and are willing to the pay the price they're asking, you should be able to close the deal.

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