Plus about $13,000 carrying costs so far plus the closing costs, so I’ll bet they’re into it over $700,000. These flips are going to get rarer, so I’ll throw in my guess:
They’ll drop it $20,000 by the end of February, then it’ll be at $749,000 by the end of summer as they try to get out at cost. They’re waaaay to far above the comps and I can find houses in Carmel Valley with almost twice the square footage going for that range.
