Address: 310 22nd - 90402Details: 5 bed/5.5 bath 6,505 sq ft house, 7,550 sq ft lot, 1989 construction
Description: Bank approved short sale = ready for immediate close. Exquisite Mediterranean villa with 6,505 sq ft including full guest house on beautiful tree lined street. Grand entertainer rooms include large formal living and dining room, library and gourmet chef's kitchen with top-of-the-line appliances. Beautiful master suite w/ luxurious master bath w/ spa tub. Additional media room, gym or playroom downstairs. Great square footage, exceptional design and quality of construction.
Previous Purchase: 8/19/03 - $2,650,000
Current Listing History: 10/7/09 - $4,495,000
Reduced down to - $2,975,000
I have featured this property before...it has been listed for rent...listed for sale for a long time...it has been in pre-foreclosure for a while but the auction date keeps getting pushed back. It is currently scheduled for auction on 6/1/10.
I don't know if the bank is serious about selling or what, but I think this is a pretty attractive price if it comes down about 10% from here. Buying a late 2003 rollback would be pretty solid.
Listing price adjusted since this post, to $3.15mm. The mind boggles.
ReplyDeleteThis one is crazy and the bank is stupid. The house has a HUGE MOLD issue. The selling agent has even said that you probably can't live in this house until you take care of the mold and the mold damage is extensive. In addition, the house is VERY dated and needs major renovations. The bank should get real and just accept that they lent money to a shmuck who paid too much for the house before. Cut the price to $2.5, watch it sell, and be happy you got some money back this year. Or, you can wait, watch interest rates go up, mold get worse, home buyers lower their offer prices and sell the house at $2.3mm 3 years from now. what a great rate of return that will be.... Try telling your boss why you screwed but this sale Mr. or Ms. bank loan work out person.
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