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  • January 27, 2011 at 8:53 AM #659789
    UCGal
    Participant

    [quote=EmilyHicks]The question is, why buy at $425k and then immediately sell it at a loss?[/quote]
    I’m not sure this happened.

    Redfin’s sales history shows a sale on 11/30 for $405k. Sdlookup shows it as $425k. It had been listed at $425k.
    http://www.redfin.com/CA/San-Diego/8990-Brentford-Ave-92126/home/4798406

    What’s interesting is I looked at the grant deed recordings and found the following.

    Kucan & Clark purchased the property on Sept 30th. The previous owners had had an NOD filed against them in May 2009, and NOT in June 2010. In other words they were headed towards foreclosure. It also appears they were going through divorce according to court records. That is probably the cause of some of their financial distress. (Divorce is expensive.)

    I do not show any grant deed transfers for the 11/30/2010 date from K&C. Since redfin shows the same $405 price, I don’t know what is going on with that sale. I did not go looking at Clark or Kukan’s grant recordings… just the partnership.

    I show a grant deed recorded on 1/6/2011 from K&C to (presumeably) the new owner.

    I would take that $425k price on 11/30 and disregard it. It appears to be an error. Maybe one of the realtors can weigh in and explain it.

    January 27, 2011 at 9:26 AM #658668
    SD Realtor
    Participant

    I dont understand what you guys are confused about. Property was listed in summer of 2010 for 250k. Property was purchased for cash 225k and closed in September. It was a short sale. Property was rehabbed and put on the market in November of 2010 for 405k. Property closed escrow for 425k. From the pics it looks like they fixed it up nicely, at least the cosmetic stuff.

    January 27, 2011 at 9:26 AM #658730
    SD Realtor
    Participant

    I dont understand what you guys are confused about. Property was listed in summer of 2010 for 250k. Property was purchased for cash 225k and closed in September. It was a short sale. Property was rehabbed and put on the market in November of 2010 for 405k. Property closed escrow for 425k. From the pics it looks like they fixed it up nicely, at least the cosmetic stuff.

    January 27, 2011 at 9:26 AM #659333
    SD Realtor
    Participant

    I dont understand what you guys are confused about. Property was listed in summer of 2010 for 250k. Property was purchased for cash 225k and closed in September. It was a short sale. Property was rehabbed and put on the market in November of 2010 for 405k. Property closed escrow for 425k. From the pics it looks like they fixed it up nicely, at least the cosmetic stuff.

    January 27, 2011 at 9:26 AM #659471
    SD Realtor
    Participant

    I dont understand what you guys are confused about. Property was listed in summer of 2010 for 250k. Property was purchased for cash 225k and closed in September. It was a short sale. Property was rehabbed and put on the market in November of 2010 for 405k. Property closed escrow for 425k. From the pics it looks like they fixed it up nicely, at least the cosmetic stuff.

    January 27, 2011 at 9:26 AM #659799
    SD Realtor
    Participant

    I dont understand what you guys are confused about. Property was listed in summer of 2010 for 250k. Property was purchased for cash 225k and closed in September. It was a short sale. Property was rehabbed and put on the market in November of 2010 for 405k. Property closed escrow for 425k. From the pics it looks like they fixed it up nicely, at least the cosmetic stuff.

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