Foreclosure turning into a flip. What you Say?
Sometimes I have to chuckle. Its not that I am laughing at someone or behind their back, its more like I am laughing at the situation. Do you know what I mean?
In June, I posted about a house that was in foreclosure and was heading right to auction. More Ironically, I knew the original owners but I did not list the property. They wanted way too much money and I am not in the habit of taking over priced homes. I did show the home once or twice but no takers were willing to come up to their asking price. The home was on the market for MORE than a year and never sold. There were not alot of price reductions and I assume there were not alot of offers.
The home foreclosed.
The "investor" now has the home back on the market. Here is the part I find funny, the home is listed for $120,000 more than the LAST offered price prior to foreclosure.
Foreclosed for $573,000
Last offering: $630,000
Asking Price Now: $750,000
some people are hard headed. I guess they want to learn the hard way.
Posted by: Scottsdale real estate | November 02, 2007 at 06:12 PM
It sounds to me like they aren't serious about selling. They'll likely learn soon enough.
Posted by: Joshua Dorkin @ BiggerPockets.com | November 28, 2007 at 08:14 PM
Some are too funny, raised the price with no improvement? They probably took one of those late night real estate courses...
Posted by: Charlotte Real Estate - Terry McDonald | January 09, 2008 at 04:03 PM
We are seeing a lot of people that seem to have somehow not noticed that the market has turned.
Posted by: Late Night Austin Real Estate Blog | February 10, 2008 at 03:27 AM