4S-Anyone know the scoop-Why flip for 30K?

[NotCranky]

Stan,
“Isn’t the trustee sales price typically the loan balance?”
Yes,only the balance for the foreclosing entity, not seconds which are erradicated by the foreclosure and unless the lender lets and outside bidder take it for less.

“Rustico, are there publicly available sources that can help me figure out what’s going on in instances like this?”

Yes there are. I am not sure how fast the info is available in a convenient format. I have the MLS so even though I have seen people post good links here I haven’t needed to remember them. Temeculaguy and probably some others have a good handle on research via web based public data banks.
A standing link on Rich’s home page for good sites would be nice.

[jpinpb]

I know someone who recently (w/in the past few months) sold their place in 4S Ranch at 17032 Garden Walk Way for $635,500. They bought it for $681,000 in 11/18/05. Almost a 50k reduction. She thinks she’s savvy about this. Taking a loss on taxes.

It was not in default or foreclosure or short sale or bank owned. This woman wanted out so she could buy a bigger place that was a reduced 200k less than it sold for originally 2 years earlier. The new home is a better investment/deal?

I don’t have the info on the new place yet. This is all hearsay, what I was told. It’s a bigger place, I guess. I don’t know if the new place was in default or foreclosure or short sale or bank owned. Keeping an eye out for the info. Will do some research on it. Very curious.

[jpinpb]

I know someone who recently (w/in the past few months) sold their place in 4S Ranch at 17032 Garden Walk Way for $635,500. They bought it for $681,000 in 11/18/05. Almost a 50k reduction. She thinks she’s savvy about this. Taking a loss on taxes.

It was not in default or foreclosure or short sale or bank owned. This woman wanted out so she could buy a bigger place that was a reduced 200k less than it sold for originally 2 years earlier. The new home is a better investment/deal?

I don’t have the info on the new place yet. This is all hearsay, what I was told. It’s a bigger place, I guess. I don’t know if the new place was in default or foreclosure or short sale or bank owned. Keeping an eye out for the info. Will do some research on it. Very curious.

[jpinpb]

I know someone who recently (w/in the past few months) sold their place in 4S Ranch at 17032 Garden Walk Way for $635,500. They bought it for $681,000 in 11/18/05. Almost a 50k reduction. She thinks she’s savvy about this. Taking a loss on taxes.

It was not in default or foreclosure or short sale or bank owned. This woman wanted out so she could buy a bigger place that was a reduced 200k less than it sold for originally 2 years earlier. The new home is a better investment/deal?

I don’t have the info on the new place yet. This is all hearsay, what I was told. It’s a bigger place, I guess. I don’t know if the new place was in default or foreclosure or short sale or bank owned. Keeping an eye out for the info. Will do some research on it. Very curious.

[jpinpb]

I know someone who recently (w/in the past few months) sold their place in 4S Ranch at 17032 Garden Walk Way for $635,500. They bought it for $681,000 in 11/18/05. Almost a 50k reduction. She thinks she’s savvy about this. Taking a loss on taxes.

It was not in default or foreclosure or short sale or bank owned. This woman wanted out so she could buy a bigger place that was a reduced 200k less than it sold for originally 2 years earlier. The new home is a better investment/deal?

I don’t have the info on the new place yet. This is all hearsay, what I was told. It’s a bigger place, I guess. I don’t know if the new place was in default or foreclosure or short sale or bank owned. Keeping an eye out for the info. Will do some research on it. Very curious.

[jpinpb]

I know someone who recently (w/in the past few months) sold their place in 4S Ranch at 17032 Garden Walk Way for $635,500. They bought it for $681,000 in 11/18/05. Almost a 50k reduction. She thinks she’s savvy about this. Taking a loss on taxes.

It was not in default or foreclosure or short sale or bank owned. This woman wanted out so she could buy a bigger place that was a reduced 200k less than it sold for originally 2 years earlier. The new home is a better investment/deal?

I don’t have the info on the new place yet. This is all hearsay, what I was told. It’s a bigger place, I guess. I don’t know if the new place was in default or foreclosure or short sale or bank owned. Keeping an eye out for the info. Will do some research on it. Very curious.

[jpinpb]

The new house is on Santa Mariana. The best I can find out so far as far as sales are as follows:
1/2005 $995k
5/2004 $875k
11/2003 $819k
7/2001 531k
12/2000 543k
11/2000 544k
11/2000 567k
11/2000 599k

So I guess if she bought it for 795k, she made 150k, taking into consideration her loss. However, if prices continue to drop, there goes her profit, on paper anyway.

[jpinpb]

The new house is on Santa Mariana. The best I can find out so far as far as sales are as follows:
1/2005 $995k
5/2004 $875k
11/2003 $819k
7/2001 531k
12/2000 543k
11/2000 544k
11/2000 567k
11/2000 599k

So I guess if she bought it for 795k, she made 150k, taking into consideration her loss. However, if prices continue to drop, there goes her profit, on paper anyway.

[jpinpb]

The new house is on Santa Mariana. The best I can find out so far as far as sales are as follows:
1/2005 $995k
5/2004 $875k
11/2003 $819k
7/2001 531k
12/2000 543k
11/2000 544k
11/2000 567k
11/2000 599k

So I guess if she bought it for 795k, she made 150k, taking into consideration her loss. However, if prices continue to drop, there goes her profit, on paper anyway.

[jpinpb]

The new house is on Santa Mariana. The best I can find out so far as far as sales are as follows:
1/2005 $995k
5/2004 $875k
11/2003 $819k
7/2001 531k
12/2000 543k
11/2000 544k
11/2000 567k
11/2000 599k

So I guess if she bought it for 795k, she made 150k, taking into consideration her loss. However, if prices continue to drop, there goes her profit, on paper anyway.

[jpinpb]

The new house is on Santa Mariana. The best I can find out so far as far as sales are as follows:
1/2005 $995k
5/2004 $875k
11/2003 $819k
7/2001 531k
12/2000 543k
11/2000 544k
11/2000 567k
11/2000 599k

So I guess if she bought it for 795k, she made 150k, taking into consideration her loss. However, if prices continue to drop, there goes her profit, on paper anyway.

[waitingtobuy]

About 4s ranch, I tracked few REO homes including the one in 16571, manassas st. 4 of those REO homes went pending very fast at their list price.It seems banks had priced those homes very realistically to sell quickly.

I hope this impacts other resale or REO homes in 4s that are now very listed at un-resonably high prices. As long as sellers are in denial and are un-aware of the market conditions, stale inventory won’t clear.

[waitingtobuy]

About 4s ranch, I tracked few REO homes including the one in 16571, manassas st. 4 of those REO homes went pending very fast at their list price.It seems banks had priced those homes very realistically to sell quickly.

I hope this impacts other resale or REO homes in 4s that are now very listed at un-resonably high prices. As long as sellers are in denial and are un-aware of the market conditions, stale inventory won’t clear.

[waitingtobuy]

About 4s ranch, I tracked few REO homes including the one in 16571, manassas st. 4 of those REO homes went pending very fast at their list price.It seems banks had priced those homes very realistically to sell quickly.

I hope this impacts other resale or REO homes in 4s that are now very listed at un-resonably high prices. As long as sellers are in denial and are un-aware of the market conditions, stale inventory won’t clear.

[waitingtobuy]

About 4s ranch, I tracked few REO homes including the one in 16571, manassas st. 4 of those REO homes went pending very fast at their list price.It seems banks had priced those homes very realistically to sell quickly.

I hope this impacts other resale or REO homes in 4s that are now very listed at un-resonably high prices. As long as sellers are in denial and are un-aware of the market conditions, stale inventory won’t clear.

[Author]

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