We are almost done with the election 2008, so lets go back to the housing issue and Flipping.
This is the house I been following, because its so close to my rental and interesting for me because its just linger on and on.
The house was foreclosed early 2007 by Countrywide, was in the market for months, then was auctioned in August 2007 and sold for 327K. But then it when back to the market, maybe Countrywide felt at the time they could get a better price. It’s stayed on the market for almost a year then sold for 194K on the September 2008 REDC auction (should have taken the 327K!), to this Flipper which installed the gas range and list the place for 280K for a realized profit of 86K…..Lets see the result of “Flip this house” event, I am betting he/she will get 235K after all said and done.
here is the redfin link http://www.redfin.com/CA/Murrieta/27245-Corte-Lucido-92563/home/6359840/mrmls-T08152346
