Home › Forums › Closed Forums › Properties or Areas › IvyGate properties in 4S Ranch
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UCGal.
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January 26, 2010 at 1:46 PM #506793January 26, 2010 at 4:10 PM #505902
SD Realtor
ParticipantYes it was purchased by a flipper oc. Look for it on the market in the future.
January 26, 2010 at 4:10 PM #506048ParticipantYes it was purchased by a flipper oc. Look for it on the market in the future.
January 26, 2010 at 4:10 PM #506457ParticipantYes it was purchased by a flipper oc. Look for it on the market in the future.
January 26, 2010 at 4:10 PM #506549ParticipantYes it was purchased by a flipper oc. Look for it on the market in the future.
January 26, 2010 at 4:10 PM #506803ParticipantYes it was purchased by a flipper oc. Look for it on the market in the future.
January 26, 2010 at 4:37 PM #505907ocrenter
Participantshould we start taking bids on the flipper’s asking price?
I say $1.2 million
January 26, 2010 at 4:37 PM #506053Participantshould we start taking bids on the flipper’s asking price?
I say $1.2 million
January 26, 2010 at 4:37 PM #506462Participantshould we start taking bids on the flipper’s asking price?
I say $1.2 million
January 26, 2010 at 4:37 PM #506554Participantshould we start taking bids on the flipper’s asking price?
I say $1.2 million
January 26, 2010 at 4:37 PM #506808Participantshould we start taking bids on the flipper’s asking price?
I say $1.2 million
February 2, 2010 at 11:59 PM #508315Participantsomeone was asking about how Ivy Gate is doing, well, we got 6 homes on the courthouse steps this coming month:
10263 WINECREEK COURT
2/8/2010 10:00:00 AM9958 WINECREST RD
2/11/2010 10:00:00 AM9934 WINECREST ROAD
2/19/2010 10:00:00 AM10284 WINECREEK CT
2/19/2010 10:00:00 AM10239 WINECREEK COURT
2/24/2010 10:00:00 AM16343 WINECREEK ROAD
2/25/2010 10:00:00 AMnow Ivy Gate only has 65 homes, so that’s nearly 10% of the homes in this single development going on auction within a month.
of note, I first featured 10263 WINECREEK COURT back in September of 2006 on BMIT:
“Let’s go back to July 2006. With 24 months of sales decline, with inventory passing historic high, with the year-over-year median price turning negative for the first time in years, you wouldn’t think anyone would commit himself to a $1.6 million mortgage on a 5,359 sqft flip.
Well, think again. 10xx3 Winecreek Court is a 5,359 sqft McMansion of all McMansions in 4S Ranch’s luxury development of Ivy Gate. Purchased in July 2006 for $1.611 million, the flipper placed the home on the market 2 months later. Hoping for a $264,000 profit after the 6% commission, the property was listed for $1.995 million on 9/6/06.
Looks like the mortgage on $1.6 million is a bit hard to handle. The flipper held out for his $1.995 million for exactly 6 days, dropping his asking price to $1.945 million. Another 6 days later, the asking price is now down to $1.745 million by 9/18/06. Why $1.745 million? Well, $1.611 million + 6% commission = $1.72 million. Hmmm… another flipper setting the price based on what he needs to break even. A recipe for foreclosure? Stupid is as stupid does!”
all it took was 3.5 years for this bad flip attempt to make it to the courthouse steps.
February 2, 2010 at 11:59 PM #508463Participantsomeone was asking about how Ivy Gate is doing, well, we got 6 homes on the courthouse steps this coming month:
10263 WINECREEK COURT
2/8/2010 10:00:00 AM9958 WINECREST RD
2/11/2010 10:00:00 AM9934 WINECREST ROAD
2/19/2010 10:00:00 AM10284 WINECREEK CT
2/19/2010 10:00:00 AM10239 WINECREEK COURT
2/24/2010 10:00:00 AM16343 WINECREEK ROAD
2/25/2010 10:00:00 AMnow Ivy Gate only has 65 homes, so that’s nearly 10% of the homes in this single development going on auction within a month.
of note, I first featured 10263 WINECREEK COURT back in September of 2006 on BMIT:
“Let’s go back to July 2006. With 24 months of sales decline, with inventory passing historic high, with the year-over-year median price turning negative for the first time in years, you wouldn’t think anyone would commit himself to a $1.6 million mortgage on a 5,359 sqft flip.
Well, think again. 10xx3 Winecreek Court is a 5,359 sqft McMansion of all McMansions in 4S Ranch’s luxury development of Ivy Gate. Purchased in July 2006 for $1.611 million, the flipper placed the home on the market 2 months later. Hoping for a $264,000 profit after the 6% commission, the property was listed for $1.995 million on 9/6/06.
Looks like the mortgage on $1.6 million is a bit hard to handle. The flipper held out for his $1.995 million for exactly 6 days, dropping his asking price to $1.945 million. Another 6 days later, the asking price is now down to $1.745 million by 9/18/06. Why $1.745 million? Well, $1.611 million + 6% commission = $1.72 million. Hmmm… another flipper setting the price based on what he needs to break even. A recipe for foreclosure? Stupid is as stupid does!”
all it took was 3.5 years for this bad flip attempt to make it to the courthouse steps.
February 2, 2010 at 11:59 PM #508876Participantsomeone was asking about how Ivy Gate is doing, well, we got 6 homes on the courthouse steps this coming month:
10263 WINECREEK COURT
2/8/2010 10:00:00 AM9958 WINECREST RD
2/11/2010 10:00:00 AM9934 WINECREST ROAD
2/19/2010 10:00:00 AM10284 WINECREEK CT
2/19/2010 10:00:00 AM10239 WINECREEK COURT
2/24/2010 10:00:00 AM16343 WINECREEK ROAD
2/25/2010 10:00:00 AMnow Ivy Gate only has 65 homes, so that’s nearly 10% of the homes in this single development going on auction within a month.
of note, I first featured 10263 WINECREEK COURT back in September of 2006 on BMIT:
“Let’s go back to July 2006. With 24 months of sales decline, with inventory passing historic high, with the year-over-year median price turning negative for the first time in years, you wouldn’t think anyone would commit himself to a $1.6 million mortgage on a 5,359 sqft flip.
Well, think again. 10xx3 Winecreek Court is a 5,359 sqft McMansion of all McMansions in 4S Ranch’s luxury development of Ivy Gate. Purchased in July 2006 for $1.611 million, the flipper placed the home on the market 2 months later. Hoping for a $264,000 profit after the 6% commission, the property was listed for $1.995 million on 9/6/06.
Looks like the mortgage on $1.6 million is a bit hard to handle. The flipper held out for his $1.995 million for exactly 6 days, dropping his asking price to $1.945 million. Another 6 days later, the asking price is now down to $1.745 million by 9/18/06. Why $1.745 million? Well, $1.611 million + 6% commission = $1.72 million. Hmmm… another flipper setting the price based on what he needs to break even. A recipe for foreclosure? Stupid is as stupid does!”
all it took was 3.5 years for this bad flip attempt to make it to the courthouse steps.
February 2, 2010 at 11:59 PM #508969Participantsomeone was asking about how Ivy Gate is doing, well, we got 6 homes on the courthouse steps this coming month:
10263 WINECREEK COURT
2/8/2010 10:00:00 AM9958 WINECREST RD
2/11/2010 10:00:00 AM9934 WINECREST ROAD
2/19/2010 10:00:00 AM10284 WINECREEK CT
2/19/2010 10:00:00 AM10239 WINECREEK COURT
2/24/2010 10:00:00 AM16343 WINECREEK ROAD
2/25/2010 10:00:00 AMnow Ivy Gate only has 65 homes, so that’s nearly 10% of the homes in this single development going on auction within a month.
of note, I first featured 10263 WINECREEK COURT back in September of 2006 on BMIT:
“Let’s go back to July 2006. With 24 months of sales decline, with inventory passing historic high, with the year-over-year median price turning negative for the first time in years, you wouldn’t think anyone would commit himself to a $1.6 million mortgage on a 5,359 sqft flip.
Well, think again. 10xx3 Winecreek Court is a 5,359 sqft McMansion of all McMansions in 4S Ranch’s luxury development of Ivy Gate. Purchased in July 2006 for $1.611 million, the flipper placed the home on the market 2 months later. Hoping for a $264,000 profit after the 6% commission, the property was listed for $1.995 million on 9/6/06.
Looks like the mortgage on $1.6 million is a bit hard to handle. The flipper held out for his $1.995 million for exactly 6 days, dropping his asking price to $1.945 million. Another 6 days later, the asking price is now down to $1.745 million by 9/18/06. Why $1.745 million? Well, $1.611 million + 6% commission = $1.72 million. Hmmm… another flipper setting the price based on what he needs to break even. A recipe for foreclosure? Stupid is as stupid does!”
all it took was 3.5 years for this bad flip attempt to make it to the courthouse steps.
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