Del Cerro View Homes

[macmichael]

6508 Norman

Anyone who follows Del Cerro know what is going on.

It sold about a year ago for about 900K I believe. It needed some rehab work in master bed / bath and there were some other funky things, but kitchen had been redone very nicely.

Now it is torn down to only the exterior wall studs. Roof gone, everything gone. Porta potty outside, but looks like work has stopped.

Plus can’t figure how someone would pay 900k and then tear down and rebuild at $ 200 sq ft.

[poway_seller]

I noticed that one as well, no idea what is going on. Question, what happens to this type of place when they stop work and don’t continue? If there is a loan, hoe does the bank deal with it? What if it forecloses? How would it get valued for resale? Basically, what are the neighborhood implications for this type of thing?

Speaking of Norman lane, anyone see the place 2 doors down on Norman? It seems nice… Not sure of the details.

[poway_seller]

I noticed that one as well, no idea what is going on. Question, what happens to this type of place when they stop work and don’t continue? If there is a loan, hoe does the bank deal with it? What if it forecloses? How would it get valued for resale? Basically, what are the neighborhood implications for this type of thing?

Speaking of Norman lane, anyone see the place 2 doors down on Norman? It seems nice… Not sure of the details.

[poway_seller]

I noticed that one as well, no idea what is going on. Question, what happens to this type of place when they stop work and don’t continue? If there is a loan, hoe does the bank deal with it? What if it forecloses? How would it get valued for resale? Basically, what are the neighborhood implications for this type of thing?

Speaking of Norman lane, anyone see the place 2 doors down on Norman? It seems nice… Not sure of the details.

[poway_seller]

I noticed that one as well, no idea what is going on. Question, what happens to this type of place when they stop work and don’t continue? If there is a loan, hoe does the bank deal with it? What if it forecloses? How would it get valued for resale? Basically, what are the neighborhood implications for this type of thing?

Speaking of Norman lane, anyone see the place 2 doors down on Norman? It seems nice… Not sure of the details.

[poway_seller]

I noticed that one as well, no idea what is going on. Question, what happens to this type of place when they stop work and don’t continue? If there is a loan, hoe does the bank deal with it? What if it forecloses? How would it get valued for resale? Basically, what are the neighborhood implications for this type of thing?

Speaking of Norman lane, anyone see the place 2 doors down on Norman? It seems nice… Not sure of the details.

[macmichael]

6462 Norman
$ 1.4 – 1.46
4652 sq ft
active 11/16/07

[macmichael]

6462 Norman
$ 1.4 – 1.46
4652 sq ft
active 11/16/07

[macmichael]

6462 Norman
$ 1.4 – 1.46
4652 sq ft
active 11/16/07

[macmichael]

6462 Norman
$ 1.4 – 1.46
4652 sq ft
active 11/16/07

[macmichael]

6462 Norman
$ 1.4 – 1.46
4652 sq ft
active 11/16/07

[betting on fall]

That part of Norman has lots of weird stuff going on.
6462 seems to be some kind of slow flip attempt. I think the current owner bought about two or three years ago, did some work, and has had it off and on the maket for a while now. One of the last listings said “last chance to buy before it becomes a rental!” As if that was some kind of threat. The place is UGLY (at least on the outside).

Its the house between 6462 and the teardown that’s the most interesting- 6480 Norman. This was the house purchased with the profits from an insider trading scam at a local high tech company. It was listed as “corporate owned” in November at 850-900K and went pending quickly. Not closed yet, but I think someone might have gotten a pretty good deal. Anyone get in to see that one?

[betting on fall]

That part of Norman has lots of weird stuff going on.
6462 seems to be some kind of slow flip attempt. I think the current owner bought about two or three years ago, did some work, and has had it off and on the maket for a while now. One of the last listings said “last chance to buy before it becomes a rental!” As if that was some kind of threat. The place is UGLY (at least on the outside).

Its the house between 6462 and the teardown that’s the most interesting- 6480 Norman. This was the house purchased with the profits from an insider trading scam at a local high tech company. It was listed as “corporate owned” in November at 850-900K and went pending quickly. Not closed yet, but I think someone might have gotten a pretty good deal. Anyone get in to see that one?

[betting on fall]

That part of Norman has lots of weird stuff going on.
6462 seems to be some kind of slow flip attempt. I think the current owner bought about two or three years ago, did some work, and has had it off and on the maket for a while now. One of the last listings said “last chance to buy before it becomes a rental!” As if that was some kind of threat. The place is UGLY (at least on the outside).

Its the house between 6462 and the teardown that’s the most interesting- 6480 Norman. This was the house purchased with the profits from an insider trading scam at a local high tech company. It was listed as “corporate owned” in November at 850-900K and went pending quickly. Not closed yet, but I think someone might have gotten a pretty good deal. Anyone get in to see that one?

[betting on fall]

That part of Norman has lots of weird stuff going on.
6462 seems to be some kind of slow flip attempt. I think the current owner bought about two or three years ago, did some work, and has had it off and on the maket for a while now. One of the last listings said “last chance to buy before it becomes a rental!” As if that was some kind of threat. The place is UGLY (at least on the outside).

Its the house between 6462 and the teardown that’s the most interesting- 6480 Norman. This was the house purchased with the profits from an insider trading scam at a local high tech company. It was listed as “corporate owned” in November at 850-900K and went pending quickly. Not closed yet, but I think someone might have gotten a pretty good deal. Anyone get in to see that one?

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