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- This topic has 11 replies, 5 voices, and was last updated 11 years, 7 months ago by
all.
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April 19, 2013 at 11:20 AM #20635April 19, 2013 at 11:40 AM #761409
SD Realtor
ParticipantActually the home first sold at trustee sale for 880k in 2008. It was then purchased by a private party for 786k in late 2008. That party then lost the home to foreclosure.
As for the 80k…. well imagine if the guy that bought the home in late 2008 never made a payment on the home. He bought in in November of 2008 and the first notice of default is in September of 2010 for 74k! So yeah he could very well of bought the home and essentially not paid a cent, not paid property taxes, and pretty much hung out until he finally got booted as the trustee sale was end of August 2012.
April 19, 2013 at 12:39 PM #761414moneymaker
ParticipantSo SD Realtor are you saying whoever purchased it at trustee sale for 880k took a loss of 94k in less than 1 year? Holy cow!
April 19, 2013 at 1:00 PM #761416ParticipantI cannot say. There is a trustee deed recorded 7/21/08. The transfer was between cal west recon and the buyer was Residential Funding Co LLc. The amount was 880,951. Then there was a corporate grant deed in November of 2008 to National City Mortgage. A week later there was a grant deed to the first buyer for 786k.
April 19, 2013 at 9:47 PM #761435Upvote_Anything
ParticipantThen, what do you guys think about the price right now?
April 20, 2013 at 9:16 AM #761443ParticipantI think it will sell pretty fast at or above sales price.
April 20, 2013 at 10:35 AM #761447Essbee
ParticipantI live a few blocks away and drive by that house all the time. (Twice this morning, so far).
The home has a huge sign above the main sign saying “HUD home”. Not sure what the implications of that are. Also, it was interesting that we got two flyers informing us of an open house there yesterday and today. I have never received a flyer for an open house in this neighborhood before.
April 20, 2013 at 12:04 PM #761450all
Participant[quote=Upvote_Anything]Then, what do you guys think about the price right now?[/quote]
The location is not good (busy side street, significant school traffic, especially in the afternoon) and the house is stripped. Which would make difference 2-3 years ago.
April 20, 2013 at 12:08 PM #761449Participant[quote=Essbee]I live a few blocks away and drive by that house all the time. (Twice this morning, so far).
The home has a huge sign above the main sign saying “HUD home”. Not sure what the implications of that are. Also, it was interesting that we got two flyers informing us of an open house there yesterday and today. I have never received a flyer for an open house in this neighborhood before.[/quote]
We (everyone in subdivision) got several reusable bags with Voak’s picture and info when he held the open house for a house on our street (and the flyer). I’m guessing he does not expect us to buy the house, he probably wants to recommend himself for the listing agent when we decide to sell.
EDIT: I believe ‘HUD home’ means it was an FHA home. It might be that someone really got it at close to 0 down (2008/2009 were the years of the tax credit) and decided to live rent-free for few years.
April 20, 2013 at 2:54 PM #761451ParticipantThe nice thing about that is that only owner occupant offers are considered in the first 30 days. Investors cannot make an offer unless the home is still available after 30 days on the market.
April 20, 2013 at 3:07 PM #761452Participant[quote=all]…and the house is stripped. Which would make difference 2-3 years ago.[/quote]
Ooh, I hadn’t noticed the missing sink fixtures until you pointed that out. Anything else missing / other damage other than some dirt on one of the rugs? I thought the pictures made it look pretty nice, although that bright orange used for some of the accent walls is a little odd.
April 20, 2013 at 9:44 PM #761461Participant[quote=Essbee]
Ooh, I hadn’t noticed the missing sink fixtures until you pointed that out. Anything else missing / other damage other than some dirt on one of the rugs? I thought the pictures made it look pretty nice, although that bright orange used for some of the accent walls is a little odd.[/quote]I did not see the inside in person. The Redfin agent’s comment says oven/range/dishwasher/door handles are missing. You can see plumbing fixtures missing in at least one of the showers. The handles on faucets seem to be missing as well.
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