Back in July 2009 I featured 3409 Pearl and I said that it was a disaster in the making.This is a small house on a small lot in a bad location.
Previous Purchases:
| 03/03/2008: | $1,055,000 |
|---|---|
| 12/16/2005: | $845,000 |
| 12/12/2003: | $655,000 |
Listing History: 6/23/09 - $1,149,000
Reduced several times to - $799,000
The description for the property now says "SHORT SALE" at the beginning.
It appears that this went "looking for backup" as of 12/29/09. I'm interested to see where this actually sells at (if the short sale goes through). While this was obviously way overpriced when it was first listed, it will be interesting to see if more than one fool was attracted by the "big" price cut down to $799,000. Maybe the bank thought they could attract a bidding war if they got the price down enough...or maybe buyers are actually getting smarter and this will close at or below the $799k list price.
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