House being flipped a second time in less than a year.

[UCGal]

This house is on a street I drive a few times a week since I have friends at both ends of it.

http://www.sdlookup.com/MLS-100001224-4729_Robbins_St_San_Diego_CA_92122

It was purchased at auction for a very good price on 3/27/09: $368,997

They put some work into it and put it back on the market 5/09 for $524k. It sold for $520k in June.

Now it’s back on the market again. It doesn’t appear that any work has been done to it. Description also suggest that the new owners didn’t do any work.

But they’re listing it for the “range” of $567-587k.

How did the house appreciate by $47-67k? In 6 months? I don’t think so.

[sdrealtor]

Sometimes people get good deals and houses can resell for more without appreciating. Sometimes houses are just overpriced.

[sdrealtor]

Sometimes people get good deals and houses can resell for more without appreciating. Sometimes houses are just overpriced.

[sdrealtor]

Sometimes people get good deals and houses can resell for more without appreciating. Sometimes houses are just overpriced.

[sdrealtor]

Sometimes people get good deals and houses can resell for more without appreciating. Sometimes houses are just overpriced.

[sdrealtor]

Sometimes people get good deals and houses can resell for more without appreciating. Sometimes houses are just overpriced.

[CA renter]

I’m seeing lots of flipping. Maybe levels that are comparable to the peak of the bubble. Once again, too much speculation because nobody was willing to correctly identify the problem (too much debt/credit), and they’ve fooled people into thinking higher prices/higher fixed housing costs are a positive thing.

[CA renter]

I’m seeing lots of flipping. Maybe levels that are comparable to the peak of the bubble. Once again, too much speculation because nobody was willing to correctly identify the problem (too much debt/credit), and they’ve fooled people into thinking higher prices/higher fixed housing costs are a positive thing.

[CA renter]

I’m seeing lots of flipping. Maybe levels that are comparable to the peak of the bubble. Once again, too much speculation because nobody was willing to correctly identify the problem (too much debt/credit), and they’ve fooled people into thinking higher prices/higher fixed housing costs are a positive thing.

[CA renter]

I’m seeing lots of flipping. Maybe levels that are comparable to the peak of the bubble. Once again, too much speculation because nobody was willing to correctly identify the problem (too much debt/credit), and they’ve fooled people into thinking higher prices/higher fixed housing costs are a positive thing.

[CA renter]

I’m seeing lots of flipping. Maybe levels that are comparable to the peak of the bubble. Once again, too much speculation because nobody was willing to correctly identify the problem (too much debt/credit), and they’ve fooled people into thinking higher prices/higher fixed housing costs are a positive thing.

[jeeman]

The pictures in that listing are impressive!

[jeeman]

The pictures in that listing are impressive!

[jeeman]

The pictures in that listing are impressive!

[jeeman]

The pictures in that listing are impressive!

[Author]

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