Properties Selling for Losses

[PerryChase]

How about using this thread to post examples of properties selling for losses. Like politics, Real Estate is more “personal” with real life examples.

[PerryChase]

$100k+ loss when all is said and done.

5995 DANDRIDGE LN #148, SD – San Diego, CA 92115**

List Price: $264,900 – $264,900
Sales History
Date Price
11/21/2005 $350,000
04/01/2003 $217,000
10/20/1994 $88,000

Bedrooms: 2
Full Baths: 2
Partial Baths: 0
Square Feet: 1,069
Lot Size: N/A
Year Built: 1985
Listing Date: 01/25/07
On Market: 2 days
Type: CONDO/TH
Status: ACTIVE
MLS #: 072007738
Description
Bank-owned property!! This is a great property that will have new paint and will be move-in ready! Stacked washer & dryer in the unit. 3rd floor location. Nice floor plan with balcony. Glasstop stove. Property will be sold ‘as-is.’

http://sdlookup.com/PropertyDetails/tabid/53/forumid/1/view/topics/pid/0684503A/Default.aspx
http://www.ziprealty.com/buy_a_home/logged_in/search/home_detail.jsp?listing_num=072007738&mls=mls_sandiego&cKey=sxsg8bch&source=SANDICOR&home_id=27749611&addedHome=true&cKey=2566pcl8

[TheBreeze]

These two arrived in my mailbox today:

1) 9936 SCRIPPS WESTVIEW WAY #255, SD – Scripps Miramar, CA 92131**

List price: $289,900 – $289,900
Sales History:
05/05/2006: $314,550
12/27/2000: $170,000
10/05/1995: $90,000

Bedrooms: 2
Full Baths: 2
Partial Baths: 0
Square Feet: 1,052
Lot Size: N/A
Year Built: 1985
Listing Date: 01/26/07
On Market: 1 day
Type: CONDO/TH
Status: ACTIVE
MLS #: 076007761

Description
Back on market!! Bank owned foreclosure!! Upper end unit with area view. Ceramic tile in baths & kitchen. New paint. Fireplace in living room. Located near shops, freeway, schools. Byr2vb4coe all info including hoa. Sold ‘as is’ with no representations or warranties.

http://www.zillow.com/HomeDetails.htm?o=North&zprop=16822010

Also note that unit #256 at the same address sold for $350,000 in 2004 (can you say “Haircut”?):

http://www.sdlookup.com/PropertyResults/tabid/58/q/9936+Scripps+Westview+Way/Default.aspx

2) 10612 DABNEY DR. #184, SD – Mira Mesa, CA 92126**

List Price: $292,000 – $310,000

Sales History:
05/20/2004: $305,000
10/07/2002: $225,000
07/17/1998: $84,000

Bedrooms: 2
Full Baths: 2
Partial Baths: 0
Square Feet: 920
Lot Size: N/A
Year Built: 1990
Listing Date: 01/25/07
On Market: 2 days
Type: CONDO/TH
Status: ACTIVE
MLS #: 078007745

Description:
Dual master suites with private bathrooms. Washer/dryer in unit. Carpet on floors. A must see! All measurements approximate buyer to verify bcoe. Subject to lenders approval for short sale.

http://www.zillow.com/HomeDetails.htm?zprop=16790534

It looks like the seller has been using their house as an ATM.

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