- Collage – Northwood – The second casualty in this complex,
- Collage – Northwood, We’ve got a WINNER! – UPDATE #3,
- Buy 1 bedroom and get a second for free (or almost)!
It is always nice to start off the week with a rollback well off its 2004 purchase price. Will we be seeing 2003 soon?
Prices are falling — Timberrrrr…
Purchase Price: $474,000
Purchase Date: 8/27/2004
Address: 1520 Timberwood, Irvine, CA 92620
Sq. Ft.: 1,270
$/Sq. Ft.: $346
Lot Size: –
Year Built: 2001
On Redfin: 70 days
From Redfin, “This is just a great location and beautiful complex! Your client will thank you for your hard work, their gain. Property needs TLC! Carpet and paint is all it takes. Large dog on premises”
“Your client will thank you for your hard work, their gain.” What is that about? Is this a realtor talking to another realtor? Why will their client gain from buying a run down condo? Are they implying the price is so low that it is a bargain? Are they trying to find a knife catcher? If it is a true fixer-upper I suspect it needs more than just carpet and paint.
Perhaps this was purchased as a specu-vestment. The owner either trashed the place himself or put a renter in there who trashed the place for him. Given that he utilized 100% financing, he probably doesn’t care. The bank can clean up his mess. Whatever the case, if this seller gets full asking price, either he or the bank stands to lose $60,400 on a property purchased in 2004.
Keep on rollin’ those prices back…
Rollin’ Rollin’ Rollin’
Keep movin’, movin’, movin’,
Though they’re disapprovin’,
Keep them doggies movin’ Rawhide!