Not only did these (VERY underwater) sellers of the $370K recent sale put their own (or HELOC’d) cash into the property ($25-$30K over the years?) but they ended up short-selling the property for $228K less than they paid in 2006.
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1. This was not a short sale. Nowhere in the listing detail is there any reference to a short sale.
2. Another model match REO, 44968 Silver Rose, closed 12/09/2011 at $292,000. Property was a rental and although in need of carpet, paint, and rear yard landscaping, was not trashed nor were the appliances missing. This was an arm’s length transaction.
