[quote=urbanrealtor] . . . As far as the Malibu house in question, I would need more information before making that assessment . . . [/quote]
UR, totally agree that some of these “short sale” and “REO” listings are so bad that even the odor inside initially (before beneficiary prep work) will keep potential buyers from remaining in there long enough to consider it. Like the previous Malibu listing stated in the comments, these “heavy fixers” and/or “heavy cleaning jobs” are “not for the weak of heart.”
For that reason, this listing may not have passed the “smell test” but the short-sale transaction did :=}
I would guess this listing has probably been a rental for many years.
From the looks of the four photos provided, it appears the eaves around the clerestory windows are rotted or termite eaten and nothing has been done to the inside since the ’60’s.
The vast majority of buyers wouldn’t want to deal with this for $1M.
