The fact that they have dropped over $100,000 in 5 months is telling. This shows how out of control prices have gotten. Actually, it demonstrates how whacky lending standards have become.
Run the numbers on this and the monthly payment is out of sight. ——-
Posted by NanoWest on 11/16/06 at 02:03 PM
Nice place, I’d pay about $450,00 for it.
Posted by Kman on 11/16/06 at 02:58 PM
$450k, I think it is still overpriced. I would buy it for $399. That would be a good deal. Wait until 2008 or 2009 and $450 might be possible.
Posted by Westpark on 11/16/06 at 10:39 PM
Original sales price $502k, closed on 9-11-2003. 50% return that first year. Wish I’d been that guy…
the gal was in trouble when she placed the condo on sale back in 4/06. but she was greedy and wanted to walk away with $150,000 of profit.
her condo was not worth the $750,000 she got the place for. and it definately wasn’t worth $939,000.
this gal is going to stick with the $800,000 price tag because in her mind, she already gave up $139,000 of profit. She’s not going to pay commission out of pocket let alone put money on the table to get the place sold at a price less than her purchase price.
look for a REO listing from First Franklin on this property come April of ‘07.
Posted by DrHousingBubble on 11/16/06 at 11:07 AM
The fact that they have dropped over $100,000 in 5 months is telling. This shows how out of control prices have gotten. Actually, it demonstrates how whacky lending standards have become.
Run the numbers on this and the monthly payment is out of sight.
——-
Posted by NanoWest on 11/16/06 at 02:03 PM
Nice place, I’d pay about $450,00 for it.
Posted by Kman on 11/16/06 at 02:58 PM
$450k, I think it is still overpriced. I would buy it for $399. That would be a good deal. Wait until 2008 or 2009 and $450 might be possible.
Posted by Westpark on 11/16/06 at 10:39 PM
Original sales price $502k, closed on 9-11-2003. 50% return that first year. Wish I’d been that guy…
Posted by zovall on 11/17/06 at 05:50 AM
Thanks for the info Westpark!
Posted by ocrenter on 01/25/07 at 10:59 PM
zovall, NOD was filed by First Franklin 12/22/06.
the gal was in trouble when she placed the condo on sale back in 4/06. but she was greedy and wanted to walk away with $150,000 of profit.
her condo was not worth the $750,000 she got the place for. and it definately wasn’t worth $939,000.
this gal is going to stick with the $800,000 price tag because in her mind, she already gave up $139,000 of profit. She’s not going to pay commission out of pocket let alone put money on the table to get the place sold at a price less than her purchase price.
look for a REO listing from First Franklin on this property come April of ‘07.
Posted by zovall on 01/26/07 at 09:55 AM
Thanks for the update ocrenter! It looks like it’s just a matter of time before Whispering Glen sees some equity evaporation.