Flipper gets rich. A psych evaluation may be in order........


By iwog   Follow   Fri, 11 Jan 2013, 5:09pm   688 views   10 comments
In Lafayette CA 94549   Watch (0)   Share   Quote   Permalink   Like (2)   Dislike (1)  

......but not for the flipper. Believe it or not this home is now pending. Millionaires are the ones who take risks, and ignore the advice of housing bears!

Cha ching! =)

http://patrick.net/forum/?p=1219623

http://www.zillow.com/homedetails/2116-Dena-Dr-Concord-CA-94519/18342989_zpid/

Viewing Comments 1-10 of 10     Last »     See most liked comments

  1. New Renter


    Follow
    Befriend (3)
    34 threads
    6,326 comments
    San Jose, CA

    1   5:26pm Fri 11 Jan 2013   Share   Quote   Permalink   Like   Dislike  

    August 2012 - sold $373k
    Dec 2012 - sold $173k

    Sounds like the August buyer would have done well to listen to Da Bears...

  2. ForcedTQ


    Follow
    Befriend (1)
    48 comments

    2   5:40pm Fri 11 Jan 2013   Share   Quote   Permalink   Like   Dislike  

    Valued by Zillow at $590,000!!! In a neighborhood of $250,000 to $300,000 homes. Purchased for $173,000 a month ago??? Buyer in august win the lotto and decide to move out of Concord??? Buyer in December won the House Lotto!!!

  3. APOCALYPSEFUCKisShostikovitch


    Follow
    Befriend (27)
    397 threads
    10,874 comments

    3   6:09pm Fri 11 Jan 2013   Share   Quote   Permalink   Like (3)   Dislike  

    The new owner needs to know that a dozen people on PatNet recommended this important home accessory:

    "It needs a trapeze in the living room so harem members can hang from the ceiling and their sister wives take turns eating them out."

  4. Nobody


    Follow
    Befriend
    10 threads
    282 comments
    San Jose, CA

    4   6:09pm Fri 11 Jan 2013   Share   Quote   Permalink   Like   Dislike  

    Let's see if there is any idiot investor from China willing to take this one.

  5. iwog


    Follow
    Befriend (46)
    375 threads
    19,956 comments
    47 male
    Lafayette, CA
    Premium

    5   6:30pm Fri 11 Jan 2013   Share   Quote   Permalink   Like   Dislike (1)  

    I did a little more research on this property. The August sale was actually the REO sale conducted by the bank. I have no idea what the December sale was but it doesn't look like a regular arms-length transfer. My guess is that it was an insider transfer and the price given isn't accurate because of the short year transfer fees.

    This has remained in REO status since the bank bought it in 2006. They finally got rid of it in August 2012. Here's an actual example of shadow inventory caused by the bank refusing to come down to market prices from 2006 to 2012. A very rare bird in Concord.

  6. iwog


    Follow
    Befriend (46)
    375 threads
    19,956 comments
    47 male
    Lafayette, CA
    Premium

    6   6:31pm Fri 11 Jan 2013   Share   Quote   Permalink   Like   Dislike (1)  

    Nobody says

    Let's see if there is any idiot investor from China willing to take this one.

    It's already pending. I saw the MLS sheet today.

  7. New Renter


    Follow
    Befriend (3)
    34 threads
    6,326 comments
    San Jose, CA

    7   7:43pm Fri 11 Jan 2013   Share   Quote   Permalink   Like   Dislike  

    robertoaribas says

    august sale was probably back to bank, so the value didn't count...

    bank sold it for 173k? I'm sure there was plenty wrong, but STILL, these are the "brilliant banks that are manipulating the market?"

    Or scamming it. Bank agent sells low to a flipper buddy and Bank applies for a bailout. Flipper buddy sells soon after and floats a kickback to agent.

  8. thomaswong.1986


    Follow
    Befriend
    27 threads
    6,131 comments

    8   8:23pm Fri 11 Jan 2013   Share   Quote   Permalink   Like   Dislike  

    New Renter says

    August 2012 - sold $373k

    Dec 2012 - sold $173k

    Sounds like the August buyer would have done well to listen to Da Bears...

    wonder if they disclose the work done line by line if any..and the market up...
    had this been a used car, the buyer would have expect to see
    every receipts for every repair modification line by line to justify the price.

  9. JodyChunder


    Follow
    Befriend (2)
    32 threads
    1,778 comments
    Victorville, CA

    9   1:56am Sat 12 Jan 2013   Share   Quote   Permalink   Like   Dislike  

    iwog says

    A very rare bird in Concord.

    A rare and butt-ugly bird.

  10. RentingForHalfTheCost


    Follow
    Befriend (8)
    63 threads
    2,549 comments
    Pleasanton, CA

    10   5:17am Sat 12 Jan 2013   Share   Quote   Permalink   Like   Dislike  

    JodyChunder says

    iwog says

    A very rare bird in Concord.

    A rare and butt-ugly bird.

    Is there a property in concord that isn't butt-ugly? Maybe the ones close to the 680 are nice. ;)

Premium member iwog is moderator of this thread.

Email

Username

Watch comments by email
Home   Tips and Tricks   Questions or suggestions? Mail p@patrick.net   Thank you for your kind donations

Page took 78 milliseconds to create.