Wow, thanks for the detailed report. My mother-in-law advised us against buying this property last year because she believed this property is full of bad vibes.
[quote=sdrealtor]This is an odd one. Closed March 2011 for $450K to an FHA buyer with $438,500 loan. In August it is on the market for the same price and goes pending 30 days later. In December there was an interspousal deed transfer from wife to husband. Then it closes as a short sale for $405K. My take is they are at each others throats the minute they move in and its a divorce situation. No way the recover anything so they jump at first offer and apply for short sale. Lender sees an ugly divorce and a small loss so they approve asap. New buyer gets in quickly at a great price. Some times these things happen.
FWIW I have a cash buyer looking for a decent home in MM up to about $400K. We have written 3 all cash full price or above offers in the last 2 weeks on new listings. We cant even get calls back on these offers. There are stacks of offers on all of them. MM is on fire with cash investors crawling all over each other for anything decent around $400K or less. Flippers are having a field day as there is lots of distress here. I dont know that they are making much on each deal but as quickly as they can buy and fix them, they can turn around and sell them.[/quote]
