I wrote about this house last week HERE & HERE
But here's the short, and probably better version,
It's the amazing story of a house that sold for $2.2mil in April 2007, and ten months later was listed for sale as a short sale for $1.1mil.
Just your average 50% off short sale.
But still it didn't sell, so last week it was re-listed, still as a short sale, but this time for $999,000. Who could resist.
Someone couldn't, because today it turned up in the MLS as under contract for $750,000. From $2.2mil to $750k in 18 months.
Somebody screwed up big time, you think.
More incredible, and ridiculous enough to be funny, at least in hindsight, and why cry over spilt milk, is that the lenders forked over $2,160,000 in mortgage money for the buyer to buy what is now a $750k house.
UPDATE 11/1
The description of the house was recently changed to reflect it's shabby condition, probably because buyers and their agents were not expecting the disaster that awaited them.
It now says "Short Sale- Great opportunity, house needs a lot of work. The roof is leaking in several places and has damaged the ceiling, all the appliances are gone, parts of kitchen & bathroom cabinets are missing, parts of the flooring need replacing. There is also a partially finished pool, bring your contractor & make an offer"
That-a-way! Call it like it is.
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