I was doing some research on a house nearby and the records showed that it sold two years ago for $20K. Sometimes the ridiculously low price shows that some other type of transaction has happened… like a transfer to a family member or a payment of a debt of some kind which shows up as a valid sale.
Then again, maybe somebody got the numbers transposed! Or – maybe the house was used for meth cooking. The entire house has to be “haz matted” (sorry for not using the right terminology) to make it safe to live in again.
This property had recently been listed at $595,000, and the comments in the listing indicate it was something of a distress sale, and a probable short sale. The transfer was to Charter One Bank, which had one of the mortgages on the property.
These are recent mortgages which were done on the property:
Amazing. That is exactly what they call “housing ATM” because they milked the house for all its worth. Who is the greater fool who will buy it now? Then again, there are countless of other San Diegans who are probably still not aware that the housing market is now tanking and a greater delusional fool will step in shortly. Charter One Bank will try its best to find one. Pity.
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