patrick.net

Wait, so they bought it nicely remodeled and are selling it now? Or they bought it and did the reno. Because 600k - commission = 564k - carrying costs = 550k = 120k. That assumes zero dollars for renovation. A new kitchen with appliances and cabinets would have been around 30k minimum, plus bathrooms, at least 50. So that's down to 70k max on the flip. I suspect it's closer to 50k. It'll be interesting to see where it sells.

@sfbubblebuyer
I think your figures in the ball park.

Zillow puts the value around $530k, their asking price is $594k.

I thought it was interesting that some one bought it, remodelled it and flipping it within 2 months.

yeah, I will wait to see what this sells for.

haha, went into Contingency and now back to Active
http://www.redfin.com/CA/San-Jose/704-Kirk-Glen-Dr-95133/home/940459

I see a lot of this Active --> Contingency --> Active.
What is the deal with this? Financing falling through? Any P.Netters have had any similar experiences?